Trader’s Watch - FRB

FRB announces that every two ordinary shares will be entitled for a free warrant; issue date is to be determined and announced later. The exercise price of the Free Warrants has been fixed by the board at RM1.10 each. (Chart extracted from 188OMS)

FRB broke through the Bollinger Middle Band and closed at 1.03 today. Based on charts, MACD has formed a round bottom and both % lines still stay in the positive zone. %K Line in the Slow Stochastic has crossed over D% Line and RSI is facing upwards. All these indicators signal a potential upswing. The only flaw that found in the charts is the shrinking volume. This may be due to the weaker market.

If FRB can break through 1.04, the Upper Bollinger Band, with volume then the upswing is confirmed. Its target price should be more than 1.10 - depends on how much analyst value the warrant. Support is 1.00.

Analyzed and Written by Smartbiz (Chart extracted from 188OMS. Click to view)