Stock Picks for Shares with Momentum: Orgabio Holidngs, FM Global Logistics Holdings

Credit: iSaham

Orgabio Holdings

Orgabio, as cited by RHB Retail Research’s technical analysis report (Feb 2), is set to rebound upwards as it bounced off the MYR0.375 immediate support yesterday on strong trading
volume – printing a “White Marubozu” bullish candlestick. The positive price action above the 21-day average line is expected to persist towards the MYR0.40 threshold, followed by the next
resistance of MYR0.435, ie the high of 19 Dec 2022. Conversely, the counter may reverse its direction if it falls below the MYR0.34 support, forming a “lower low” bearish structure
below the average line.

FM Global Logistics Holdings

This counter 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 patte

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