Support Line

CLIQ Energy shares rose from a near seven-month low of 67 sen on April 20 to a high of 70 sen during intra-day session amid renewed bargain hunting interest. Based on the daily chart, the stock is likely to face stiff challenges at the 70.5 sen barrier, of which a successful breach would trigger a positive breakout, clearing the way for more advances in the immediate term, targeting the 75 sen-75.5 sen band.

The next upper strong hurdle is expected at 78.5 sen while initial support is lying at the 69 sen floor, followed closely by the recent ebb of 67 sen.