Lion Industries poised to break out from immediate resistance level, says RHB Retail Research

Lion Industries poised to break out from immediate resistance level, says RHB Retail Research
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KUALA LUMPUR (Feb 22): RHB Retail Research said Lion Industries Corp Bhd is poised to break out from the immediate resistance level marked at 90.5 sen.

In a trading stocks note today, the research house said with the surge in trading volume, we think the bullish momentum is gaining traction.

“If it breaks above the threshold, the next resistance level will be 96.5 sen, followed by RM1.10.

“Meanwhile, a downward breach of the 77 sen support should cancel this expectation,” it said.