FPH’s general uptrend began in mid-Jun. It propelled the RSI into the overbought territories and strengthened the buying momentum from the DMIs and MACD. The bullishness has cooled slightly as the stock consolidated between 77.20 and 79.10. The buying signals coming from the RSI and DMIs are still strong, but the MACD already converged bearishly. These suggest that FPH would likely remain range-bound in the near term. Moreover, the 50-d and 100-d MAs of 71.22 and 71.37, respectively, are poised to stage a golden cross.

Trade the range

Support: 77.20
Resistance: 79.10

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