Kumpulan Fima is eyeing to rebound above its sideways consolidation phase. This is as it jumped off its support yesterday and hit the MYR2.40 resistance level, as well as the 21-day average line, on stronger volumes. If the momentum reemerges to surpass both the average line and resistance level, the stock may pose an uptrend reversal towards hitting the MYR2.48 resistance and then the MYR2.51 multi-year high. Conversely, the momentum may reverse if it drops below the MYR2.35 support – drawing a “lower low” bearish pattern beneath the average line.

Source: RHB Securities Research - 26 May 2022