Support Line

DENKO Industrial shares jumped start and rallied to a high of 38 sen in early session before trimming gains to finish steadier. Technically, all the short-term indicators are painting an encouraging pictogram, implying more upside potential going forward. Heavy resistance is seen at the 54 sen-55 sen band while support is resting at the 27-sen level, followed by the 23-sen mark.

MINHO scaled to a near one-year high of RM1.11 during intra-day trading amid follow-through bargain-hunting interest. Initial resistance is envisaged at the RM1.15 level. A breach of the next upper hurdle of RM1.28 would signal a rally continuation, en route to the RM1.40 mark. Current support is seen at 96 sen. An additional floor is pegged at the 89-sen line.