LBS Bina is poised to resume the upside movement after it climbed above the resistance. The counter has crossed above the 21-day SMA line and closed above the MYR0.66 resistance to confirm a bullish setup. This latest breakout suggests the bullish momentum is gaining traction. The stock should continue to travel towards the next resistance at MYR0.70, followed by the MYR0.745 level. On the flip side, falling below the MYR0.62 support resumes the downwards movement.

Source: RHB Securities Research - 24 Sept 2024