As long as the candle remains above the RM.60 level, the stock is still worth a hold
LB Aluminium Bhd symbol: LBALUM | stock code: 9326) – RM0.625.
above: LB Aluminium Bhd Daily Chart (click to enlarge)
LB Aluminium was a trading buy on Tuesday as it wasclearing the triangle formation. The past few sessions has seen the stock gaining strength and breaching the 23 % Fibonacci level.
Its core indicators, however, have turned down slightly yesterday, but so long as the candle remains above the RM.60 level, the stock is still worth a hold. A break of the level, however, prompts a take profit with its support pegged at RM0.56. The resistance, meanwhile, is at RM0.65.
by Mercury Securities
The Company is principally engaged in the business of manufacturing, marketing and trading of aluminium extrusion and ceiling metal tee products.