Kumpulan Fima is eyeing to propel towards its multi-year high as it attempted to move past the resistance at MYR2.47 yesterday – on top of stronger daily trading volume. If the momentum persists to surpass that level, the stock may propel further to hit the MYR2.60 threshold – the highest level since Jun 1997, before jumping further towards the MYR3.00 level – the highest point last seen in May 1997. Meanwhile, a drop below the MYR2.38 support may trigger the resumption of a downward correction, forming a “lower low” bearish pattern.

Source: RHB Securities Research - 26 Apr 2022