RHB Retail Research
Technical Analysis - Lii Hen Industries
Lii Hen Industries may rebound higher after forming a "Bullish Engulfing" pattern in its latest trade. As the stock rose above the 21-day SMA line, this has enhanced the buying momentum. A bullish bias may appear above the MYR3.02 level, with an exit set below the MYR2.93 threshold. Towards the upside, the near-term resistance is at MYR3.22. This is followed by the MYR3.31 level.
Source: RHB Securities Research - 3 Dec 2018
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