KUALA LUMPUR (Nov 22): AllianceDBS Research said Cuscapi Bhd (Cuscapi) had on Nov 21 traded lower to 21.5 sen before rebounding to close near the day’s high at 24 sen (up 2 sen or 9.09%).

In its evening edition Wednesday, the research house said Cuscapi continued to fluctuate around the 20-day (blue) and 50-day (red) moving average lines in the last 4 days.

“Following the up close on Nov 21, the stock is likely to move higher with immediate hurdle at 25.5 sen.

“A crossover of 25.5 sen should see further price rise to the next overhead resistance at 26.5 sen.

“The support is pegged at 21 sen. A fall below 21 sen would put pressure on the stock down to the subsequent support at 19 sen,” it said.

AllianceDBS Research said stock volume traded on Nov 21 was 12.5 million shares compared to the 3-month average volume of 8.56 million shares.