L&P Global is prepared for an uptrend reversal after rebounding strongly and breaching the resistance of MYR0.45 on strong volume, depicting a fresh “higher high” bullish candlestick pattern. This, coupled with the improving 21-day SMA line pointing upwards, implies that the stock may trend upwards further towards the next resistance of MYR0.50, followed by MYR0.525. A fall below the MYR0.425 support would negate the bullish setup.

Source: RHB Securities Research - 22 Nov 2023