KUALA LUMPUR (Jan 15): PublicInvest Research said LB Aluminium Bhd is attempting to stage a potential breakout from its congestion 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 the near term.

“Should resistance level of 57.5 sen be broken, it may continue to lift price higher to subsequent resistance levels of 61 sen and 65 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.