FGV Holdings is set to trend upwards further as it firmly breached the immediate resistance of MYR1.55 last Friday – printing a neutral “White Marubozu” bullish candlestick. If the breakout is maintained above that level, we expect the stock to rise further towards the MYR1.78 point – the highest level since Aug 2018, followed by the MYR2.00 threshold. In the event it drops below the MYR1.48 support, the stock may resume its downtrend, beneath the 21-day average line.

Source: RHB Securities Research - 14 Feb 2022