KUALA LUMPUR (Oct 2): AllianceDBS Research said Ikhmas Jaya Group Bhd (Ikhmas) had on Oct 1 traded marginally higher to 26 sen before closing near the day’s low at 24.5 sen (down 0.5 sen or 2.00%).

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

“Given the recent share price behaviour, the stock is likely to move between 24 sen and 26.5 sen in the coming few days.

“A crossover of 26.5 sen should see further price rise to the next overhead resistance zone, 28 sen– 30 sen.

“However, a fall below 24 sen would put pressure on the stock down to the subsequent support zone, 21.5 sen– 23 sen,” it said.

AllianceDBS Research said stock volume traded on Oct 1 was 23.8 million shares compared to the 3-month average volume of 2.36 million shares.