DENKO Industrial Corp rebounded to a two-month high of 30.5 sen during intra-day session. Technically, prices may extend recovery in the short-term, with significant resistance expected at the 36 sen to 36.5 sen band. The upper strong hurdle is resting at the 54 sen line, of which a decisive breach would signal a bullish turnaround. Solid floor is envisaged at the 23.5 sen level.
GAMUDA inched higher amid fresh bargain hunting interest after the recent correction. Based on the daily chart, prices are expected to face strong resistance at the RM5.05 barrier, of which a successful penetration would signal the resumption of a rally, challenging the historical peak of RM5.80 in the medium term. Initial support is seen at the RM4.74 line.
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