Thursday 28 Mar 2024
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KUALA LUMPUR (Aug 7): AllianceDBS Research said Notion VTec Bhd (Notion) had on Aug 6 traded within last Friday’s range to form an inside day bar before closing at the day’s low of 59.5 sen (down 1.5 sen or 2.45%).

In its evening edtion Monday, the research house said Notion continued to trade above the 20-day (blue) and 50-day (red) moving average lines.

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

“Following the down close on Aug 6, the stock is likely to move lower with immediate support at 58.5 sen.

“A fall below 58.5 sen should see further price decline to the subsequent support at 56.5 sen.

“The hurdle is pegged at 63.5 sen. A rise above 63.5 sen would lift the stock to the next resistance at 66 sen,” it said.

AllianceDBS Research said stock volume traded on Aug 6 was 1.06 million shares compared to the 3-month average volume of 900,000 shares.

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