LBS Bina Group has been trending lower in recent sessions. However, a hammer pattern is seen in its latest session. There is a possibility it may rebound above the immediate resistance of RM0.53. If this happens, the next short-term target price will be RM0.555 and RM0.58. On the downside, support price is anticipated at RM0.505 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.53

Target: RM0.555, RM0.58 (time frame: 3-6 weeks)

Exit: RM0.505

Source: AmInvest Research - 6 Aug 2019