Lion Industries Corporation Berhad : Bullish Chart Breakout - 10/08/2010

LionInd pierced through the RM1.60 level with a bullish breakout candle yesterday. The share price of LionInd rallied across the key resistance level of RM1.87 in Apr 2010, but triggered a sustained selling leg shortly after touching a high of RM2.00.

It trended lower to a low of RM1.37 in May, but built a support base near RM1.40 for the past few months.

Following a smooth recovery path, the stock pierced through the RM1.60 level with a bullish breakout candle, suggesting a likely follow-through buying support today.

Lion Industries Corporation Berhad : Bullish Chart Breakout - 10/08/2010