KUALA LUMPUR (Dec 29): RHB Retail Research said Lii Hen Industries Bhd is set for a strong uptrend after breaching the 95 sen immediate resistance on Thursday — on the back of higher trading volume.

In a trading stocks note on Friday, the research house said that if the breakout sustains, the stock will likely advance towards the RM1 mark, followed by the next resistance at RM1.07, or the highest since March 30, 2021.

“Conversely, a drop below the 92 sen support would invalidate the bullish setup, falling below the 21-day simple moving average line,” it said.