KUALA LUMPUR (Nov 26): AllianceDBS Research said WCE Holdings Bhd (WCEHB) had on Nov 23 traded higher to 71 sen before closing at 69 sen (down 1 sen or 1.42%).

In its evening edition last Friday, the research house said WCEHB 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 Nov 23, the stock is likely to move lower with immediate support at 67.5 sen.

“A fall below 67.5 sen should see further price decline to the subsequent support at 65 sen.

“The hurdle is pegged at 71 sen. A rise above 71 sen would lift the stock to the next resistance zone, 73 sen – 75 sen,” it said.

AllianceDBS Research said stock volume traded on Nov 23 was 330,000 shares compared to the 3-month average volume of 130,000 shares.