LBS Bina set for an uptrend reversal, says RHB Retail Research

KUALA LUMPUR (Feb 22): RHB Retail Research said LBS Bina Group Bhd is set for an uptrend reversal as it broke above the immediate resistance of 50 sen on strong volume yesterday – printing a long white candlestick amid a “higher high” bullish pattern.

In a trading stocks note today, the research house said if the bullish momentum persists above that level, the stock may climb towards the next resistance level of 56 sen, followed by 59 sen.

“However, the momentum may lose steam if it falls below the 48 sen support – beneath the 21-day average line,”it said.

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