Business Times :23 February 2010
SHARE prices on Bursa Malaysia rebounded in earnest in tandem with the rebounds on the regional stock markets yesterday. Overall advancing counters overwhelmed declining counters by 469 to 196.The Kuala Lumpur Composite Index (KLCI) rebounded from its intra-day low of 1,260.51 to its intra-day high of 1,267.09 yesterday. It closed at 1,266.44 points, giving a day-on-day gain of 8.77 points, or 0.77 per cent.
Telekom Malaysia Bhd (TM) staged a technical rebound yesterday. Its daily price trend closed at RM3.35, giving a day-on-day gain of 9 sen, or 2.76 per cent. Chartwise, TM's daily price trend rose from its low of RM2.96 on November 30 2009 all the way down to its intra-day low of RM3.22 on on January 30 2010, posting a gain of 26 sen, or 8.78 per cent.
Its hourly price trend staged a technical breakout of its immediate overhead resistance (B1:B2) on February 19 2010 and followed by a follow-through rebound yesterday.Its hourly fast MACD (moving average convergence divergence) continued to stay above its hourly slow MACD yesterday. Both its hourly fast and slow MACDs continued to stay above their respective neutral reference lines.TM's hourly price trend is likely to pause for a short consolidation before resuming its prior technical rebound.The subject expressed above is based on technical analysis and opinions of the writer. It is not a solicitation to buy or sell.
http://www.btimes.com.my/Current_News/BTIMES/articles/temm/Article/
No comments:
Post a Comment