LPHA has
been on a sustained downtrend for a little over a year now. At its worst, the
share price lost as much as 28% from the 50 sen high in February 2012 to a
recent low of 36 sen just a month back. Of particular interest to us was that
the share price breached the trend-line resistance amid a surge in trading
volume yesterday. A bullish “White Marubozu” candlestick was also formed as a
result of the 2 sen climb to 40.5 sen and we believe that a trend reversal may
be in the making. The MACD is also in agreement with this notion, having
depicted subtle signs of bullish divergence. This suggests that the down-trend
is losing strength, and as such, we would not rule out the possibility that the
shift in momentum would lead to further retracements towards 43 sen.
Source: Kenanga
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