L&P Global is poised for a technical breakout after it bounced off the 21-day SMA line, eyeing to test the MYR0.48 resistance level with high trading volume. If it manages to surpass that level, the bullish momentum is likely to persist, driving the counter towards the recent high of MYR0.50, followed by the next resistance at MYR0.53. However, a fall below the MYR0.45 support would negate the bullish setup, as the counter would then be trading below the SMA line.
 

Source: RHB Securities Research - 13 Jun 2024