Support Line

BERJAYA Sports Toto fell to a nine-month low of RM3.82 last Friday before staging a small rebound in the wake of light bargain-hunting interest. Technically, prices are likely to extend recovery due to very oversold condition, but the upside potential may be capped at the RM4.10 barrier. A slip below the RM3.80 floor will drag prices down to the RM3.65 level.

CCM Duopharma reversed from an early high of RM2.80, the best level since December 2007, to end slightly lower owing to an apparent profit-taking activity. Going forward, prices may retreat further on extended correction due to overbought reason. Stiff resistance is expected at the RM2.80-RM2.86 band while support is resting at the RM2.70 floor, followed by the RM2.60-RM2.62 range.