KUALA LUMPUR (May 21): AllianceDBS Research said KPS Consortium Bhd (Kpscb) had on May 18 traded within previous day’s range to form an inside day bar before closing at 59 sen (down 1 sen or 1.66%).

In its evening edition last Friday, the research house said Kpscb continued to trade above the 20-day (blue) and 50-day (red) moving average lines in the last 2 days.

“The inside day bar indicated a breather in the game play.

“Following the down close on May 18, the stock is likely to move lower with immediate support at 57 sen.

“A fall below 57 sen should see further price decline to the subsequent support at 54.5 sen.

“The hurdle is pegged at 60.5 sen. A rise above 60.5 sen would lift the stock to the next resistance zone, 67 sen – 70 sen,” it said.

AllianceDBS Research said stock volume traded on May 18 was 500,000 shares compared to the 3-month average volume of 1.64 million shares.