KUALA LUMPUR: Shares in Awanbiru Technology Bhd, which has been on an uptrend, rose over 6% in early trade Monday.

       The counter gained 6.34%, or 4.5 sen to 76 sen at 9.51am. It has fallen some 21%. Awanbiru-WA added 10.39%, or four sen to 42.5 sen.

       AmInvestment Bank said Awanbiru surged and tested the 72 sen resistance level.

       “With its RSI indicator in an uptrend, coupled with a higher high candlestick pattern, we see a possibility for a technical breakout.

       “If this happens, we expect it to move towards the short-term target prices of 75.5 sen and 80 sen. The downside support is projected at 64 sen. Traders are advised to exit on a breach to avoid further losses,” AmInvestment said.

       In the third quarter ended March 31, Awanbiru posted a net profit of RM762,000 against a net loss of RM3.19mil.

       Revenue for the quarter rose 13.2% to RM28.5mil from RM25.17mil a year ago.

       In the first nine months to March 31, Awanbiru posted a net profit of RM10.42mil on revenue of RM102.1mil.