Leform is set to propel towards its all-time-high after breaching above the MYR0.225 resistance level yesterday, forming a “higher high” bullish pattern. Riding on the bullish momentum above the 21-day average line, the stock may propel towards the MYR0.25 historical high of 20 Dec 2022, before possibly printing a new high at MYR0.30. However, the counter may move downwards if it drops below the MYR0.21 support level, as it would be trading below the short-term average line to form a “lower low” bearish pattern.
Source: RHB Securities Research - 27 Jan 2023
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