FGV's price is set for an uptrend rebound, says RHB Retail Research

KUALA LUMPUR (Feb 20): RHB Retail Research said FGV Holdings Bhd’s price is set for an uptrend rebound after bouncing off the 21-day simple moving average line, testing the RM1.50 mark during intraday session on Monday, backed by a surging trading volume.

In a trading stocks note on Tuesday, the research house said that if it manages to surpass that mark, the bullish momentum is likely to persist, heading towards the RM1.60 recent high, followed by the RM1.75 next resistance level.

“However, a decline below the RM1.42 support triggers a downwards movement,” it said.