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penetrated the 10½-month-old descending line of 60.5 sen to achieve a high of 62.5 sen during intra-day session amid fresh bargain hunting buying. The positive breakthrough suggests that the recent correction phase has ended and that a new leg of upward trend may come about next, with initial resistance anticipating at the 200-day simple moving average of 67 sen. The next upper strong hurdle can be expected at the 75 sen to 78 sen band while the recent lows of 52 sen will now act as the base for recovery.
PANTECH Group mended to a high of 75.5 sen during intra-day session, the best since April on follow-through bargain hunting interest. Technically, all the short-term indicators are painting a pretty promising landscape, implying prices are likely to scale higher, targeting to fill a minor gap at the 87 sen to 90 sen range on bullish extended-move before taking a breather. Current support is pegged at the 100-day simple moving average of 72 sen, followed closely by the 70 sen mark.
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