LBS Bina Group’s buying interest is back after it broke out of the 3-week bullish flag pattern with a white candle on Friday. The stock pushing near its multi-year high, supported by rising EMAs, likely indicates that upward momentum may be picking up. A bullish bias may emerge above the RM0.62 level, with stop-loss set at RM0.59, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.70, followed by RM0.75.
 

Entry : RM0.62–0.66

Target : RM0.70, RM0.75

Exit : RM0.59

Source: AmInvest Research - 29 Jan 2024