L&G broke out of RM0.50 with a positive breakout candle. The share price of L&G lost its previous upward momentum, after a steep rally from below RM0.36 to a more than two years high of RM0.64 in Jan 2010. As it failed to sustain at above the RM0.56 support level, the stock retreated further to RM0.44 in Mar 2010. However, after weeks of sideways consolidation below the RM0.50 region, the stock regained its upward momentum and closed yesterday handsomely at RM0.52, with a positive breakout candle, indicating a likelihood of a follow-through technical rebound in the immediate term.
Mandarin Version : Land & General Berhad : A Likely Breakout Signal For Further Technical Rebound…-07/04/2010
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