KUALA LUMPUR (Oct 15): AllianceDBS Research said Tune Protect Group Bhd (TunePro) was taking a pause and that TunePro had on Oct 13 traded within previous day’s range to form an inside day bar before closing at the day’s low of RM1.38 (down 3 sen or 2.12%).

In its evening edition Oct 13, the research house said TunePro continued to trade above the 20-day and 50-day moving average lines in the last 2 days.

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

“Following the down close on Oct 13, the stock is likely to move between RM1.31 and RM1.43 in the coming few days.

“A crossover of RM1.43 should see further price rise to the next overhead resistance zone, RM1.50 – RM1.55.

“However, a fall below RM1.31 would put pressure on the stock down to the subsequent support at RM1.24,” it said.  

AllianceDBS Research said stock volume traded on Oct 13 was 1 million shares compared to the 3-month average volume of 1.49 million shares.

The research house said 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 the neutral zone.