LBS Bina set to propel towards YTD high, says RHB Retail Research

• The research house said the latest “higher high” bullish pattern above the rising 21-day simple moving average line suggests the uptrend movement is firming up and heading towards 62 sen, the YTD high, followed by the next resistance at 70 sen, a new high.

KUALA LUMPUR (Dec 8): RHB Retail Research said LBS Bina Group Bhd is set to propel towards the year-to-date (YTD) high, as it surpassed the 57.5 sen breakout level on Thursday, on the back of surging trading volume.

In a trading stocks note on Friday, the research house said the latest “higher high” bullish pattern above the rising 21-day simple moving average line suggests the uptrend movement is firming up and heading towards 62 sen, the YTD high, followed by the next resistance at 70 sen, a new high.

“On the other hand, falling below the 54.5 sen support will negate the bullish setup,” it said.

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