SHARE prices on Bursa Malaysia rebounded in early trades before slipping into consolidations yesterday. Overall advancing counters outpaced its declining counters by 494 to 174.

The Kuala Lumpur Composite Index (KLCI) consolidated from its intra-day high of 1,312.10 to its intra-day low of 1,303.13, closing at 1,303.13 points, giving a day-on-day gain of 4.76 points, or 0.37 per cent.

Dayang Enterprise Holdings Bhd staged a technical rebound to close at RM2.06 yesterday, giving a day-on-day gain of 11 sen, or 5.64 per cent.

Chartwise, Dayang's daily price trend fell from its high of RM2.18 on April 7 to its intra-day low of RM1.70 on May 26, recording a total loss of 48 sen, or 22.02 per cent.

Its hourly price trend continued to climb along its short-term uptrend (B3:B4) yesterday and continued to stay above it.

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

Dayang's 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.