SHARE prices on Bursa Malaysia consolidated before staging mild rebound yesterday. Overall advancing counters outpaced declining ones by 349 to 271.

The Kuala Lumpur Composite Index (KLCI) fell back from its intra-day high of 1,290.80 to its intra-day low of 1,285.78 yesterday. It closed at 1,288.18, giving a day-on-day gain of 1.91 points, or 0.15 per cent.

Integrated Rubber Corp Bhd (IRCB) staged a technical rebound to close at the day's high of 78 sen, posting a day-on-day gain of 12 sen, or 18.18 per cent.

Chartwise, IRCB's daily price trend fell from its recent high of RM1.31 on March 24 to its intra-day low of 64.5 sen on June 1, recording a total loss of 66.5 sen, or 50.76 per cent.

Its hourly price trend staged an overhead breakout of its intermediate-term downtrend (B1:B2) yesterday and continued to stay above it.

The stock's hourly fast MACD (moving average convergence divergence) continued to stay above its hourly slow MACD yesterday. Both the fast and slow MACDs continued to stay above their respective neutral reference lines.

IRCB' hourly price trend is likely to stage a follow-through rebound.

The subject expressed above is based on technical analysis and opinions of the writer. It is not a solicitation to buy or sell.