KUALA LUMPUR (April 9): Public Investment Bank said Lion Industries Bhd is recovering from its consolidation phase.

In a trading ideas note today, the research house said improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term.

“Should resistance level of 61 sen be broken, it may continue to lift price higher to subsequent resistance level of 63.5 sen.

“However, failure to hold on to support level of 55 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.