Saturday 20 Apr 2024
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KUALA LUMPUR (Sept 15): AllianceDBS Research said TRIplc (Triplc) had on Sept 14 traded higher to RM2.17 before closing near the day’s low at RM1.90 (down 15 sen or 7.31%).

In its evening edition yesterday, the research house said Triplc continued to trade above the 20-day (blue) and 50-day (red) moving average lines in the last 2 days.

“Following the down close on Sept 14, the stock is likely to move lower with immediate support at RM1.87.

“A fall below RM1.87 should see further price decline to the subsequent support at RM1.80.

“The hurdle is pegged at RM2.08. A rise above RM2.08 would lift the stock to the next resistance at RM2.17,” it said.

AllianceDBS Research said stock volume traded on Sept 14 was 2.43 million shares compared to the 3-month average volume of 50,000 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 an overbought zone.

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