Kumpulan Fima is set for a technical rebound as it rose strongly to breach the MYR2.60 resistance last Friday with solid trading volume – forming a “higher high” bullish pattern above the 21- day average line. As it printed a “White Marubozu” bullish candlestick during the latest session, the stock is expected to jump further towards the MYR2.74 resistance, or 7 Jun’s high, followed by MYR2.86, or 10 Jun’s high. If it falls below the support level of MYR2.50, the stock may trend downwards as it trades below the average line.

Source: RHB Securities Research - 4 Jul 2022