Lotte Chemical Titan Holding Bhd (LCTITAN, 5284)

• Share price closed 1.7% higher at RM2.39 on Thursday.

• LCTITAN has broken out from its consolidation phase with high volume on 3 March 2022. Its share price has also trended above its MA20 and MA50 recently.

• Coupled with uptick in its indicators, we anticipate the share price to move higher.

• Resistance levels are identified at RM2.42 (R1) and RM2.51 (R2).

• On the flipside, support levels are pegged at RM2.30 (S1) and RM2.10 (S2).

Source: Rakuten Research - 11 Mar 2022