• Lion Corporation broke out of its flag resistance on Friday with rising volume. The bulls are gaining momentum fast and this should push prices towards RM0.365 and RM0.39 next.
• Technical landscape is improving. MACD histogram bars have returned to the black while RSI is still rising.
• As long as prices stay above its 50-day SMA, we would rather stick with the bull’s camp. Hence, any pullback is an opportunity to accumulate. Always place a stop at below RM0.32.
Lion Corporation Berhad is an investment holding company. The company, through its subsidiaries, manufactures and distributes steel products and office equipment, provides construction and civil engineering services, and operates as a general merchant. Lion Corporation also assembles commercial vehicles and provides share registration.
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