RHB Retail Research
Trading Stocks - Lagenda Properties
Lagenda Properties was ready to move higher, and broke past the resistance level of MYR0.87. Based on the price and volume profile, note that trading volume was spiking near the MYR0.83 level. As such, we believe the bottoming process has concluded. As such, expect the bullish momentum to reach the next resistance of MYR0.915, followed by MYR0.945. A downside breach of the MYR0.83 support level would nullify this expectation.
Source: RHB Securities Research - 15 Oct 2020
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