Friday 29 Mar 2024
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KUALA LUMPUR (July 28): AllianceDBS Research said AWC Bhd (AWC) was taking a breather and that AWC had on July 27 traded within previous day’s range to form an inside day bar before closing near the day’s low at 88.5 sen (down 1 sen or 1.11%).

In its evening edition yesterday, the research house said AWC continued to trade above the 20-day and 50-day moving average lines.

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

“Given the recent share price behaviour, the stock is likely to move between 84.5 sen and 91 sen in the coming few days.

“A crossover of 91 sen should see further price rise to the next overhead resistance zone, 94 sen – 95 sen.

“However, a fall below 84.5 sen would put pressure on the stock down to the subsequent support at 82 sen,” it said.

AllianceDBS Research said stock volume traded on July 27 was 4.27 million shares compared to the 3-month average volume of 12.3 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 an overbought zone.

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