KUALA LUMPUR (May 15): AllianceDBS Research said DRB-Hicom Bhd (DrbHcom) had on May 14 traded lower to settle at the day’s low of RM2.00 (down 15 sen or 6.97%).

In its evening edition yesterday, the research house said DrbHcom continued to trade below the 20-day (blue) and 50-day (red) moving average lines in the last 4 days after spending 1 day between 20-day and 50-day MA lines.

“Following the down close on May 14, the stock is likely to move lower again with immediate support at RM1.97.

“A fall below RM1.97 should see further price decline to the subsequent support at RM1.80.

“The hurdle is pegged at RM2.11. A rise above RM2.11 would lift the stock to the next resistance zone, RM2.25 – RM2.30,” it said.

AllianceDBS Research said stock volume traded on May 14 was 15.7 million shares compared to the 3-month average volume of 6.42 million shares.