L&P Global is expected to resume its upward movement after recently breaking past the MYR0.48 immediate resistance with strong trading volume. This breakout is supported by a "Bullish Marubozu" candlestick pattern indicating positive momentum. The stock is likely to continue its upward movement, targeting the previous highs of MYR0.515 (25 Apr) and MYR0.535 (22 Mar). However, if the stock price drops below the support level of MYR0.45, it would invalidate the bullish pattern and resume the downtrend.

Source: RHB Securities Research - 21 Jun 2023