Mar 31, 2016

Felda Global Ventures Testing Resistance Level

Stock Code: 5222

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Felda  Global  Ventures  was  testing  the  MYR1.54  level  and  50-day SMA  line  in  its  latest  session.  The  stock  may  climb  further  if  it breaches this point in the near term, with a target price of MYR1.66. On  the  other  hand,  it  may  turn  sideways  if  the  MYR1.54  mark cannot  be  surpassed.  Support  may  be  found  at  MYR1.43,  where traders can exit upon a breach.

Source: RHB Research – 31/03/2016

The Company were the commercial arm of FELDA for overseas investments in the upstream and downstream palm oil business and other agribusinesses and the Company are currently a producer of oil palm and rubber plantation products soybean and canola products oleochemical products and sugar products. The Company primary business activities are classified into three main business segments: plantations business downstream business and sugar business.