Friday 29 Mar 2024
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KUALA LUMPUR (Dec 14): AllianceDBS Research said Malaysia Airports Holdings Bhd (Airport) had on Dec 13 traded higher to RM8.47 before closing off the day’s high at RM8.34 (up 7 sen or 0.84%).

In its evening edtion yesterday, the research house said Airport continued to fluctuate around the 20-day (blue) and 50-day (red) moving average lines in the last 8 days.

“Following the up close on Dec 13, the stock is likely to move higher again with immediate hurdle at RM8.65.

“A crossover of RM8.65 should see further price rise to the next overhead resistance zone, RM8.80 – RM9.00.

“The support is pegged at RM8.16. A fall below RM8.16 would put pressure on the stock down to the subsequent support zone, RM8.00 – RM8.06,” it said.

AllianceDBS Research said stock volume traded on Dec 13 was 3.21 million shares compared to the 3-month average volume of 2.93 million 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.

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