3581 Lioncor >>> A classic case study of SUPPORT & RESISTANCE. Prices broke thru 55 sen convincingly and and went as high as RM0.595. This can be viewed as EXUBERANCE trading where a young and aggresive LION went for the kill. Bear defenders at the 55 lines were eaten alive. This 4.5 sen extra above 55sen target can be viewed as an OVERKILL
U think now a tired lion is gonna charge and kill all those bears again at 0.55, the Support turned Resistance again line so easily as in early May 09? It may but will need more support in the form of volume to give a repeat performance.
Above is the new LIONCOR last close 22 May 2009Below is the LIONCOR when it was a cub on 05 May 2009
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