Commerce has just touched its all-time high

Commerce is at RM6.70 at 4.00 p.m., which is its all-time high recorded in February 2000 (see Chart 1 below). Is it going to surpass that level & make a new all-time high? The Commerce-CA, which has an exercise price of RM4.59, was trading at RM1.95 at 4.00 p.m., which represents a discount of 2.4% to the underlying share. The investors or punters appear not too convinced that the rise in the share price of Commerce can sustain. The weekly chart of Commerce-CA is appended as Chart 2. We will have to wait & see what will happen next.

















Chart 1: Commerce's monthly chart as at September 27


















Chart 2: Commerce-CA's weekly chart as at September 27