Support Line

GUNUNG Capital hit a high of 91 sen during intra-day session, the best since April 2011. Based on the daily chart, prices are expected to encounter stiff resistance at the RM1 band, a successful breakout from which would propel them to the RM1.20 level in the medium term. Current support is pegged at the 78 sen-80 sen range.

POH Huat Resources has been range-bound for more than a month, undergoing a healthy consolidation. Technically, indicators are improving, implying there is a fairly good chance of the bulls resuming the rally in the near term. A breach of the 69-sen barrier would give investors the confirmation, en route to the 80-sen mark. Important support is resting at the 55-sen line.