FM Global Logistics Holdings is expected to stay on an uptrend after undergoing a strong breakout above MYR0.58 recently, before gradually climbing above that point. Continuation of buying interest above the breakout level may see the stock climbing towards the recent high of MYR0.62, followed by MYR0.65. However, the counter may move downwards if it drops below the MYR0.565 support, as it heads to trade below the short-term average line besides forming a “lower low” bearish pattern.

Source: RHB Securities Research - 2 Feb 2023