KUALA LUMPUR (Jan 10): AllianceDBS Research said Systech Bhd (Systech) had on Jan 9 traded higher to 37 sen before closing near the day’s high at 36.5 sen (up 1 sen or 2.81%).

In its stock trend monitor yesterday, the research house said Systech continued to trade above the 20-day (blue) and 50-day (red) moving average lines.

“Following the up close on Jan 9, the stock is likely to move higher again with immediate hurdle at 38.5 sen.

“A crossover of 38.5 sen should see further price rise to the next overhead resistance at 42 sen.

“The support is pegged at 35 sen. A fall below 35 sen would put pressure on the stock down to the subsequent support zone, 32.5 sen – 34 sen,” it said.

AllianceDBS Research said stock volume traded on Jan 9 was 3.37 million shares compared to the 3-month average volume of 2.90 million shares.

The research house said that indicators wise, the MACD was above the 9-day moving average line with the buy signal remains intact.

It said the relative strength index indicated that the stock was currently in a neutral zone.