Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Jan 12): AllianceDBS Research said the hurdle for Scientex Bhd was at RM9.92 and that Scientex had on Jan 11 traded higher to RM9.75 before closing off the day’s high at RM9.69 (up 10 sen or 1.04%).

In its evening edition yesterday, the research house said Scientex continued to trade above the 20-day and 50-day moving average lines.

“Given the recent share price action, the stock is likely to move between RM9.42 and RM9.92 in the coming few days.

“A fall below RM9.42 should see further price decline to the subsequent support at RM9.15.

“However, a rise above RM9.92 would lift the stock to the next resistance at RM10.40,” it said.

AllianceDBS Research said stock volume traded on Jan 11was 230,000 shares compared to the 3-month average volume of 170,000 shares.

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

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

      Print
      Text Size
      Share