KUALA LUMPUR (Aug 15): AllianceDBS Research said Trive Property Group Bhd (Trive) had on Aug 14 traded higher to settle at the day’s high of 11 sen (up 0.5 sen or 4.76%).

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

“Following the up close on Aug 14, the stock is likely to move higher with immediate hurdle at 11 sen.

“A crossover of 11 sen would lift the stock to the next resistance at 12 sen – 13.5 sen.

“The support is pegged at 9.5 sen. A fall below 9.5 sen should see further price decline to the subsequent support at 8 sen,” it said.

AllianceDBS Research said stock volume traded on Aug 14 was 1.78 million shares compared to the 3-month average volume of 3.91 million shares.

The research house said that indicators wise, the MACD was marginally above the 9-day moving average line with a buy signal just being emitted.

It said the relative strength index indicated that the stock was currently in a neutral zone.