Friday 29 Mar 2024
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KUALA LUMPUR (July 2): AllianceDBS Research said KUB Malaysia Bhd (KUB) had on June 29 traded within previous day’s range to form an inside day bar before closing at 32 sen (up 1 sen or 3.22%).

In its stock trend monitor last Friday, the research house said KUB continued to trade below the 20-day (blue) and 50-day (red) moving average lines.

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

“Given the recent share price behaviour, the stock is likely to move between 30 sen and 35 sen in the coming few days.

“A crossover of 35 sen should see further price rise to the next overhead resistance zone, 38 sen – 40 sen.

“However, a fall below 30 sen would put pressure on the stock down to the subsequent support at 28 sen,” it said.

AllianceDBS Research said stock volume traded on June 29 was 320,000 shares compared to the 3-month average volume of 1.30 million shares.

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