Rakuten Trade Research Reports

Technical View - LBS Bina Group Bhd

Publish date: Fri, 08 Dec 2023, 09:06 AM
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LBS Bina Group Bhd

  • Buying interest in LBS has returned after it broke out from a 3-week rectangular pattern yesterday. Coupled with the 20-day EMA remaining above the 50-day EMA since the bullish crossover in mid-November and the stock pulling further away from all the EMAs, the uptrend may continue in the near term.
  • A bullish bias may emerge above the RM0.575 level and should lift it towards the subsequent level of RM0.61 (R1) followed by RM0.65 (R2) in the near term.
  • On the downside, stop-loss is set at RM0.53, below the 50 days EMA.

Source: Rakuten Research - 8 Dec 2023

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