KUALA LUMPUR (Sept 18): AllianceDBS Research said Bina Puri Holdings Bhd (BPuri) had on Sept 15 traded within previous day’s range to form an inside day bar before closing unchanged at 37 sen.

In its evening edition last Friday, the research house said BPuri continued to trade above the 20-day (blue) and 50-day (red) moving average lines in the last 2 days.

“The inside day bar indicated a breather in the game play.

“Following the unchanged settlement on Sept 15, the stock is likely to move between 35 sen and 38.5 sen in the coming few days.

“A crossover of 38.5 sen should see further price rise to the next overhead resistance zone, 40 sen – 42.5 sen.

“However, a fall below 35 sen would put pressure on the stock down to the subsequent support at 34 sen,” it said.

AllianceDBS Research said stock volume traded on Sept 15 was 380,000 shares compared to the 3-month average volume of 720,000 shares.

The research house said that indicators wise, the MACD was above the 9-day moving average line with the buy signal remains intact.

It said the relative strength index indicated that the stock was currently in a neutral zone.