Lion Industries formed a technical breakout yesterday, as it pushed above the immediate resistance of MYR0.62 – coupled with higher volume, and a bullish candlestick. If it stays above that level, the bulls may drive it towards the next resistance level of MYR0.655, followed by MYR0.675. Conversely, falling below the immediate support of MYR0.585 will trigger the resumption of a downward correction – below the 21-day average line.

Source: RHB Securities Research - 9 Feb 2022