Friday 26 Apr 2024
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KUALA LUMPUR (Jan 22): AllianceDBS Research said Crest Builder Holdings Bhd (Cresbld) had on Jan 19 traded higher to 92.5 sen before closing at 91 sen (up 0.5 sen or 0.55%).

In its stock trend monitor last Friday, the research house said Cresbld continued to stay below the 20-day (blue) and 50-day (red) moving average line.

“Following the weak up close on Jan 19, the stock is likely to move lower with immediate support at 90.5 sen.

“A fall below 90.5 sen should see further price decline to the subsequent support at 87.5 sen.

“The hurdle is pegged at 93 sen. A rise above 93 sen would lift the stock to the next resistance zone, 98 sen – RM1.00,” it said.

AllianceDBS Research said stock volume traded on Jan 19 was 640,000 shares compared to the 3-month average volume of 450,000 shares.

The research house said that indicators wise, the MACD line 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.

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