KUALA LUMPUR (Jan 12): AllianceDBS Research said the immediate support for Landmarks Bhd was seen at 99 sen and that Landmarks had on Jan 11 tested last Friday’s low of RM1.02 before closing near the day’s low at RM1.04 (down 7 sen or  6.30%).

In its evening edition yesterday, the research house said Landmarks continued to stay above the 20-day and 50-day moving average lines in the last 2 days.

“Following the down close on Jan 11, the stock is likely to move lower with immediate support seen at 99 sen.

“A fall below 99 sen should see further price decline to the subsequent support zone, 92 sen – 95 sen.

“The hurdle is pegged at RM1.12. A rise above 1.12 would lift the stock to the next resistance at RM1.16,” it said.

AllianceDBS Research said stock volume traded on Jan 11 was 630,000 shares compared to the 3-month average volume of 110,000 shares.

The research house said that indicators wise, the MACD was still above the 9-day moving average line with the buy signal remains intact.

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