LBS Bina Group is set to propel towards the YTD high, as it surpassed the MYR0.575 breakout level yesterday, on the back of surging trading volume. The latest “higher high” bullish pattern above the rising 21-day SMA line suggests the uptrend movement is firming up and heading towards MYR0.62 – the YTD high – followed by the next resistance at MYR0.70, a new high. On the other hand, falling below the MYR0.545 support will negate the bullish setup.

Source: RHB Securities Research - 8 Dec 2023