Fiamma Holdings Berhad (FIAMMA, 6939)
• Share price closed 3.81% higher at RM1.09 on Tuesday.
• FIAMMA encountered some selling pressure recently and hovered near its support level of RM1.05. The white marubozu candlestick was seen yesterday with decent buying interest. Coupled with a bullish MACD and indicators showing uptick momentum, share price is expected to move higher.
• Resistance levels are identified at RM1.14 (R1) and RM1.17 (R2).
• On the flipside, support levels are pegged at RM1.05 (S1) and RM0.99 (S2).
Source: Rakuten Research - 18 Jan 2023
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