First Resources (technical)

First Resources: UOBK Technicals says Buy with TP $2.10, protective stops at $1.76. The stock may rebound on the back of a follow through of the potential bullish hammer formed during the last couple of trading sessions. Watch if the stock closes above $1.93 in the next few trading sessions as the MACD indicator looks poised to form a bullish crossover should the MACD histogram cross above its centreline. The house has a fundamental Buy on First Resources with TP $2.65.