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REVIEW: Against the bearish US backdrop, Bursa Malaysia started out the week on a soft platform, with the FBM Kuala Lumpur Composite Index (FBM KLCI) gapping down a significant 16.37 points to 1,790.59. The numbers were only available at 9.22am due to a technical glitch earlier.
COMINTEL Corp rebounded to a near three-week high of 24 sen during intra-day session. A successful penetration of the short-term descending line of 25.5 sen, followed by a positive breakout of the 27 sen barrier would signal a new leg of uptrend, en route to the 36 sen level. On the opposite, a crack of the 20 sen floor would see the recent lows of 15 sen becoming vulnerable.
A FUTILE attempt to penetrate the pretty stiff barrier of 50 sen for two consecutive days several months back, sent AWC Bhd into correction mode, which witnessed prices dropping from a high of 49.5 sen on April 13 – the best level in a decade – to a low of 34 sen in mid-June owing to an apparent profit-taking.