Support Line

Farlim Group scaled to a high of 70.5 sen during intra-day session, the best since August 2007. For now, indicators are positive despite reaching the overbought area, suggesting prices may firm on bullish extended-move to challenge the 78 sen to 80 sen strong resistance band before taking a breather. Greater barrier is seen at the 90 sen mark while initial support is resting at the 61.5 sen floor.

MINETECH Resources hit a 5½-year high of 24 sen. Technically, the mild topping out sign of the stochastic momentum index at the top suggests correction may be looming, but investors can consider accumulating on weakness, as other indicators remain bullish. The near-term upside objective would be to challenge the historical peak of 34 sen while initial support is expected at the 19 sen level.