Highlights / Stock Picks of the Day - Lion Industries Corporation ("LIONIND")

In line with the buoyant market, LIONIND closed 3 sen up to end the session at RM1.10. The strong move represents the first time LIONIND's share price has managed a break above the trend line resistance since
February. The move also followed a series of bullish candlesticks in the past week, with the formation of a "Morning Doji Star" and the subsequent long white candlesticks. Taken in its entirety, the price action
has likely established a decent support level at RM1.04, and also confirmed a bullish trend reversal. We reckon that the downside risk for LIONIND is likely to remain capped at RM1.04 in the near term while the
upside potential is likely to be in the region of RM1.15, and RM1.25 next.

Source: Kenanga