Lion Industries Corporation Bhd: Chart and Comment

Lionind: Lets forget its past as it has embarked on its steel consolidation exercise.

It is in process of putting its flat steel plant Megasteel Sdn Sdn into Lion Industries Corp Bhd.

It needs approval and would see LICB housing both long and flat steel plant operations of the Lion group.

Lion Industries Corporation Bhd is sitting on net cash of RM145 mil as of June 2019 but would dwindle fast if proposed purchase of Megasteel takes place.

Technically support is at 0.375 and resistance is at 0.435.