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UOB Kay Hian Research Articles

Author: UOBKayHian   |   Latest post: Wed, 21 Jun 2017, 09:53 AM

 

Traders' Corner - Lion Industries Corporation (LLB MK)

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  • Technical BUY with +19.8% potential return
  • Last price: RM1.16
  • Target price: RM1.36, RM1.39
  • Support: RM1.00
  • Stop-loss: RM0.995

BUY with a target price of RM1.39 and stop-loss at RM0.995. Based on the daily Ichimoku chart, a buying signal was seen as the stock has been trading above the Ichimoku cloud. This is supported by the Heat Wave indicators as the Tenkan-sen, Kinjun-sen and Chikao span lines are intercrossing, which suggest a bullish signal. An uptick in the RSI and DMI suggests buying momentum is set to continue in the near term. We peg our targets at RM1.36 and RM1.39 in the near to medium term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 2 Jun 2017

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Labels: LIONIND

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