KUALA LUMPUR (June 4): RHB Retail Research said Leon Fuat Bhd is resuming its uptrend after crossing above the immediate resistance on high volume yesterday.
In a trading stocks note today, the researcjh house said that supported by “higher low and higher high” formation, the stock has bounced off 21-day SMA line while breaking above RM1.11 resistance turned- support level.
“The bullish momentum may lift it towards RM1.20 and RM1.25 resistance levels.
“Meanwhile, breaching below the 97.5 sen support level may cancel this expectation,” it said.