KUALA LUMPUR (July 26): AllianceDBS Research said Ucrest Bhd (Ucrest) had on July 25 tested previous day’s high of 43 sen before closing near the day’s low of 41 sen (down 1 sen or 2.38%).

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

“Following the down close on July 25, the stock is likely to move lower with immediate support at 40 sen.

“A fall below 40 sen would put pressure on the stock down to the subsequent support at 37 sen.

“The hurdle is pegged at 45 sen. A crossover of 45 sen should see further price rise to the next overhead resistance at 50 sen,” it said.

AllianceDBS Research said stock volume traded on July 25 was 15.4 million shares compared to the 3-month average volume of 17.1 million shares.