KUALA LUMPUR (Sept 20): Focus Lumber Bhd (FLBhd) shares rose 1.95% in early trade today after Hong Leong IB Research said FLBhd was bottoming up and that FLBhd is expected to play catch up against its peers as momentum built up yesterday following a 3.35% gain in share price and nearly 2.7 million shares (100% and 137% higher against 1M/3M average) changing hand. At 9.08am, FLBhd rose 3 sen to RM1.57 with 457,900 shares done. In a trading idea note today, the reseach house said that on the back of bottoming up daily and weekly indicators, it expects FLBhd to break immediate resistance of RM1.60 soon. “A decisive breakout above RM1.60 will spur prices higher to retest RM1.72-1.80 levels. Cut loss at RM1.41,” it said

Source: The Edge Markets September 20, 2016 01:30 UTC