KUALA LUMPUR (Apr 16): AllianceDBS Research said DRB-Hicom Bhd (DRBHcom) had on April 13 traded within previous day’s range to form an inside day bar before closing at RM2.32 (up 4 sen or 1.75%).

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

It said the inside day bar indicated a breather in the game play.

“Given the recent share price behaviour, the stock is likely to move between RM2.26 and RM2.46 in the coming few days.

“A crossover of RM2.46 should see further price rise to the next overhead resistance at RM2.50.

“However, a fall below RM2.26 would put pressure on the stock down to the subsequent support zone, RM2.15 – RM2.20,” it said.

AllianceDBS Research said stock volume traded on April 13 was 3.33 million shares compared to the 3-month average volume of 9.02 million shares.