AMMB Holdings set a new record of RM8.02 amid follow-through buying momentum. For now, all the short-term indicators remain positive, implying prices may sustain the upward thrust deeper into unknown territory on bullish extended-mode. Initial support is pegged at the 14-day simple moving average of RM7.78.
LONDON Biscuits reversed a 14-month peak of 78 sen to end a shade lower owing to apparent profit-taking activity. Based on the daily chart, a positive breakout had been detected on Tuesday, suggesting a bullish turnaround. A breach of the 79-sen hurdle may drive the shares up to the RM1.00-RM1.02 range in the near-term. Vital support is resting at the 72-sen floor.