LBS Bina Group Bhd (LBS, 5789)

• Share price closed 6.1% higher at RM0.52 on Monday.

• LBS has broken out above its consolidation phase yesterday with high trading volume. It is now trading above all its key moving averages.

• Backed by upticks in its indicators and bullish signal from MACD indicator, LBS is poised to move higher.

• Resistance levels are identified at RM0.535 (R1) and RM0.565 (R2).

• On the flipside, support levels are pegged at RM0.495 (S1) and RM0.480 (S2).

Source: Rakuten Research - 22 Feb 2022