Support Line

Bertam Alliance rebounded to a two-week high of 81 sen during intra-day in the wake of fresh bargain-hunting interest. Apparently, all the short-term indicators are positive, implying more advances can be expected. A breach of the relatively stiff barrier of 95 sen will propel prices up to the RM1.30 level in the medium term while solid support is resting at the 14-day simple moving average of 75 sen.

Bonia Corp scaled a new all-time peak of RM5.20 during intra-day session. Technically, indicators remain firm despite entering the overbought area, suggesting prices may extend gains into the uncharted territory on bullish extended-mode. Initial support is pegged at the RM5 psychological level, followed by the RM4.72 floor.