Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR (Sept 21): AllianceDBS Research said AWC Bhd (AWC) had on Sept 20 crossed over the 83 sen hurdle to reach an intraday high of 84 sen before closing at 82 sen (up 1.5 sen or 1.86%).

In its evening edition yesterday, the research house said AWC continued to trade above the 20-day (blue) and 50-day (red) moving average lines.

“Following the up close on Sept 20, the stock is likely to move higher again with immediate hurdle at 83 sen.

“A crossover of 83 sen again should see further price rise to the next overhead resistance zone, 86 sen – 87.5 sen.

“The support is pegged at 81.5 sen. A fall below 81.5 sen would put pressure on the stock down to the subsequent support at 80 sen,” it said.

AllianceDBS Research said stock volume traded on Sept 20 was 3.88 million shares compared to the 3-month average volume of 970,000 shares.

      Print
      Text Size
      Share