Lion Corporation Berhad : Momentum Would Likely Increase Significantly If It Removes

A bullish chart breakout from the stubburn downtrend. The share price of
LionCor has been trending at below the Downtrend Resistance Line (DRL) since
touching a high of RM0.595 in May 2009. In the technical rebound in Jan and Apr
2010, the stock hit the DRL at RM0.43 and RM0.38 respectively, but on both
occasions, it failed to penetrate the tough DRL. However, in recent months, the
stock seems to stabilise at above the RM0.265 support level, and has in recent
sessions pierced through the DRL. The breakthrough is seen as a fresh bullish chart
breakout from the stubburn downtrend.

Lion Corporation Berhad : Momentum Would Likely Increase Significantly If It Removes - 28/09/2010