First Resources (technical)

First Resources: Technical Sell Call by UOB kay Hian with Potential 8.4% return and $1.74 TP. House note that stock appears to be resisted by its mid Bollinger band and has formed a lower high. Prices are likely to see more selling pressure below $1.88. Its MACD indicator has formed a bearish crossover and it is still trending down. Stops could be placed at above $1.99 which is near its immediate resistance. House institutional research has a fundamental BUY with TP of $2.30.