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FPI (9172) : FORMOSA PROSONIC INDUSTRIES BERHAD
ILoveDividend
Member StarMember Star
Posts: 516
Joined: Dec 2011
Male, MYS
08 Oct 2017, 04:41 PMPost #1

Focus - Issue 253
06 Oct, 2017

 

Tressy Tan
Member Star
Posts: 12
Joined: Dec 2018
Female, MYS
22 Feb 2019, 10:58 AMPost #2

  • Target Price RM1.76
  • Last closing price RM2.00
  • Potential downside -12.0%

Upside may be capped. FPI’s share price is forming a rounding top, signifying possible halt in prior surging rally. Weakening RSI and fast-paced MACD indicators currently signal an exit to sell into strength, anticipating performance in momentum and trend to remain weak in near term. Should support level of RM1.89 be broken, it may continue to drive price lower to subsequent support level of RM1.76. Note that the potential halt in uptrend presents an opportunity for profit taking instead of intraday short selling.

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