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PublicInvest Research

Author: PublicInvest   |   Latest post: Wed, 28 Oct 2020, 11:02 AM

 

Technical Buy - LBS (5789)

Author:   |    Publish date:


  • Target Price: RM0.540, RM0.565
  • Last closing price: RM0.510
  • Potential return: 5.8%, 10.7%
  • Support: RM0.500
  • Stop Loss: RM0.485

Possible for bottom fishing. Without creating new low amid market weakness, LBS is staging a potential breakout from its consolidation phase. 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 RM0.525 be broken, it may continue to lift price higher to subsequent resistance levels of RM0.540 and RM0.565.

However, failure to hold on to support level of RM0.500 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 15 Nov 2019

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Labels: LBS

Related Stocks

Chart Stock Name Last Change Volume 
LBS 0.375 -0.01 (2.60%) 579,000 

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