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PublicInvest Research

Author: PublicInvest   |   Latest post: Fri, 15 Nov 2019, 9:19 AM

 

Technical Buy: LBS (5789)

Author:   |    Publish date:


  • Target Price: RM0.735, RM0.770
  • Last closing price: RM0.695
  • Potential return: 5.7%, 10.7%
  • Support: RM0.685
  • Stop Loss: RM0.670

Possible for bottom fishing. LBS’s share price stayed strong amid the broader market’s profit taking activities yesterday. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should resistance level of RM0.710 be broken, it may continue to lift price higher to subsequent resistance levels of RM0.735 and RM0.770.

However, failure to hold on to support level of RM0.685 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 23 Jan 2019

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Labels: LBS

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Chart Stock Name Last Change Volume 
LBS 0.50 -0.01 (1.96%) 246,400 

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