Support Line

IREKA Corp has been range-bound with a mild upward bias, attempting to stage a recovery. The trend ahead is simple. A slip below the 58 sen floor will signal a downtrend continuation and in this case, the all-time low of 48 sen will be vulnerable. On the opposite a breach of the 100-day simple moving average of 73 sen may see the fate of this stock turning brighter.

JOHORE Tin rebounded to a nine-month high of RM1.83 in the wake of renewed bargain hunting interest. Based on the daily chart, a clear penetration of the RM1.85 barrier would lead to a re-test of the all-time peak of RM2.19, set on May 22, last year. Initial support is resting at the RM1.74 level, followed closely by the RM1.69 line.