LB Aluminium is poised to climb upwards after bouncing off the support level after heading towards the MYR0.595 immediate resistance yesterday and forming a “White Marubozu” bullish candlestick. If a breakout above that level happens, the bullish momentum may propel the stock higher towards the MYR0.615 resistance before it trades towards the MYR0.65 next resistance. However, falling below the MYR0.56 support reverses the momentum, as the counter would trade downwards and form a "lower low" bearish structure.

Source: RHB Securities Research - 31 May 2024