KUALA LUMPUR (Sept 21): AllianceDBS Research said Panpages Bhd (Panpage) had on Sept 20 traded lower to settle at the day’s low of 23.5 sen (down 0.5 sen or 2.08%).

In its evening edition yesterday, the research house said Panpage continued to trade above the 20-day (blue) and 50-day (red) moving average lines in the last 10 days.

“Given the recent share price behaviour, the stock is likely to move between 22.5 sen and 24.5 sen in the coming few days.

“A crossover of 24.5 sen should see further price rise to the next overhead resistance zone, 25.5 sen – 26 sen.

“However, a fall below 22.5 sen would put pressure on the stock down to the subsequent support zone, 21 sen – 21.5 sen,” it said.

AllianceDBS Research said stock volume traded on Sept 20 was 490,000 shares compared to the 3-month average volume of 20,000 shares.