THE FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) resumed its prior technical rebound yesterday. It rebounded to its day high of 1,414.74 yesterday. Advancing counters outpaced declining counters by 593 to 171.

The FBM KLCI rebounded from its day low of 1,406.99 to its day high of 1,414.74 yesterday. It closed at 1,411.65 points, posting a day-on-day gain of 14.61 points, or 1.05 per cent.

Mah Sing Group Bhd staged a technical rebound to close at RM1.81, giving a day-on-day gain of 6 sen, or 3.43 per cent.

Chartwise, Mah Sing's daily price trend rebounded from its day low of RM1.49 on September 16 to its day high of RM1.84 last Thursday, giving a total gain of 35 sen, or 23.49 per cent.

Its 60-minute price trend trended above its short-term uptrend (B1:B2) yesterday and continued to stay above it.

Its 60-minute fast MACD (moving average convergence divergence) stayed above its 60-minute slow MACD yesterday. Both its 60-minute fast and slow MACDs continued to stay above their respective neutral reference lines.

Mah Sing's 60-minute price trend is likely to stage a follow-through rebound, likely to rechallenge its overhead resistance at the RM1.82-RM1.95 levels over its near-term perspectives.- Business Times