KUALA LUMPUR (Mar 19): AllianceDBS Research said OKA Corporation Bhd (OKA) had on March 16 tested previous day’s low of RM1.41 before closing at the day’s high of RM1.44 (up 3 sen or 2.12%).

In its evening edition last Friday, the research house said OKA continued to trade below the 20-day (blue) and 50-day (red) moving average lines.

“Given the recent share price behaviour, the stock is likely to move between RM1.40 and RM1.50 in the coming few days.

“A crossover of RM1.50 should see further price rise to the next overhead resistance at RM1.55.

“However, a fall below RM1.40 would put pressure on the stock down to the subsequent support zone, RM1.24 – RM1.33,” it said.

AllianceDBS Research said stock volume traded on March 16 was 60,000 shares compared to the 3-month average volume of 130,000 shares.