Eye on Stock, Telekom Malaysia

Telekom Malaysia Bhd (code: 4863), whose share price has been on a descent for the greater part of this year, has been flirting dangerously close to the support of RM3.

Last Thursday, the counter reached a bottom of RM3.10 and looked set to return to the recent low of RM3, representing an eight-year low for the stock. However, a technical rebound yesterday managed to steady the stock for the time being, giving it a reprieve from further decline.