LGMS is poised for a rebound, as it recently bounced off the immediate support level and formed a "Hammer" bullish reversal candlestick. Yesterday, it moved towards the immediate resistance point of MYR1.19. If a breakout above this resistance level occurs, the bullish bias may drive the stock further towards the next resistance of MYR1.27, followed by the MYR1.40 mark. However, if the stock falls below the support level of MYR1.12, our expectations would be negated.

Source: RHB Securities Research - 15 Mar 2023