KUALA LUMPUR (March 3): RHB Retail Research said LB Aluminium Bhd is likely to rebound higher as it bounced and breached the immediate resistance of 51.5 sen yesterday, coupled with high volume.

In a trading stocks note today, the research house said the “White Marubozu” bullish candlestick printed above the support has solidified the positive rebound in the coming sessions.

“If it stays above the breakout level, the bulls may propel the stock towards the recent high of 54.5 sen, followed by the next resistance of 62 sen.

“In the event it falls below the 49.5 sen support, bearish momentum may emerge and lead the stock southwards,” it said.