Leong Hup International Bhd (6633)

• LHI rose 5.6% or 4 sen to RM0.76 yesterday.
• Yesterday's close formed a positive long white candle signalling potential breakout from its downtrend channel since its IPO listing falling 31%. With the more positive outlook guidance, and improved signals from key momentum indicators, we expect share price to rebound further.
• From here, resistance levels are expected at RM0.80 (R1) and RM0.90 (R2).
• Meanwhile, support level is at its all-time-low of RM0.76 (S1).

Source: Rakuten Research - 30 Aug 2019