KUALA LUMPUR (Sept 24): AllianceDBS Research said Nova MSC Bhd (Novamsc) had on Sept 21 tested previous day’s high of 17.5 sen before closing at 17 sen(up 0.5 sen or 3.03%).

In its evening edition last Friday, the research house said Novamsc continued to stay below the 50-day MA line, but beating around the 20-day MA line in the last 6 days.

“Following the up close on Sept 21, the stock is likely to move higher with immediate hurdle at 17.5 sen.

“A crossover of 17.5 sen should see further price rise to the next overhead resistance at 19 sen.

“The support is pegged at 15.5 sen. A fall below 15.5 sen would put pressure on the stock down to the subsequent support at 14.5 sen,” it said.

AllianceDBS Research said stock volume traded on Sept 21 was 20.2 million shares compared to the 3-month average volume of 29.2 million shares.