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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.
REVIEW: Shares on Bursa Malaysia kicked off the week on an optimistic mood, with the FBM Kuala Lumpur Composite Index (FBM KLCI) rising 1.93 points to 1,745.50, rebounding from the previous session’s declines in the wake of renewed bargain hunting interest, tracking the bullish US markets.