LGMS is set to propel higher as it experienced a technical breakout last Friday - surpassing the MYR0.76 resistance level on high volume – forming a “higher high” bullish structure. If the breakout sustains, the bullish bias may propel the stock towards the MYR0.84 next resistance, followed by MYR0.915, which was 9 Jun’s high. However, the stock’s uptrend movement may reverse if it falls below the MYR0.72 support – as it may form a “lower low” bearish pattern to fall towards the 21-day average line.

Source: RHB Securities Research - 25 Jul 2022