Eye on stock

Malaysia Building Society Bhd (MBSB) shares pulled back to a low of RM2.10 on Jan 27 on correction amid an apparent profit-taking activity, followed by a brief sideways consolidation.

Thereafter, prices bounced off on renewed buying, hitting a high of RM2.36 on April 23, but only to be met with another bout of selling pressure. Shares reversed down again, but just when they appeared defenceless and in great danger of violating the recent lows of RM2.10, fresh bargain hunting interest came to the rescue, lifting MBSB to an intra-day day of RM2.22 yesterday.