LGMS is eyeing to extend the upside movement after climbing above the key resistance. The stock has been consolidating sideways below the MYR1.55 resistance. This latest breakout, coupled with the high volume, suggests the bullish momentum is now gaining pace. An extension of the bullish setup should see a “higher high” price action testing the MYR1.75 mark, followed by the MYR1.90 level. On the flipside, falling below MYR1.35 negates the bullish setup.

Source: RHB Securities Research - 11 Jul 2024