Lion Industries Corporation is set print a fresh 2023 high as it broke above the MYR0.39 resistance on surging trading volume yesterday, forming a “higher high” bullish pattern.
RHB Retail Research, in a note today (Sept 5), said it is now eyeing the Dec 2022’s high at MYR0.425, followed by the next resistance at MYR0.48. However, falling below the MYR0.35 support would indicate a downtrend, forming a “lower low” bearish pattern while trading below the 21-day SMA line.
AYS Ventures is strengthening its bullish momentum as it reclaimed above the breakout level of MYR0.415 above the 21- day SMA line yesterday.
Supported by stronger trading volume, the stock is set to propel towards the MYR0.45 resistance, followed by the MYR0.50 mark.
A breach below the MYR0.39 support – forming a “lower low” bearish pattern below the SMA line – would dent sentiment and spark a downtrend.
