Eye on stock: TMC Life Sciences Bhd

AFTER peaking out temporarily at an all-time high of 75 sen on Feb 9, TMC Life Sciences Bhd retraced slightly from the top to trade range-bound on consolidation owing to an apparent profit-taking activity.

However, what appeared to be a typical process gave way later, succumbing to extended selling pressure and subsequently, prices slipped to an eight-month low of 46 sen on Aug 25. At that moment, this stock looked frail and in great danger of breaking down from the last leg of the previous massive rally, but a fresh bout of renewed bargain hunting buying momentum emerged expectedly from the sideline to the rescue, helping this stock to move up.