LYC Healthcare Bhd (0075)

• LYC gained 11.7% or 3.5 sen to close at RM0.335 yesterday.
• Yesterday’s move sent the stock price to close above 50-day simple moving average line, forming a long white candle on the back of higher trading volume. Yesterday’s bullish breakout signals a trend reversal of consolidation, thus we may see further price recovery from here.
• As such, resistance levels are expected at RM0.350 (R1) and further to RM0.380 (R2).
• On the contrary, support levels are found at RM0.285 (S1) and RM0.275 (S2).

Source: Rakuten Research - 1 Aug 2019