Thursday 28 Mar 2024
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KUALA LUMPUR (Jan 13): AllianceDBS Research said the immediate hurdle for AWC Bhd was at 46.5 sen and that AWC had on Jan 12 traded lower to a low of 42.5 sen before closing at 43.5 sen (down 1.5 sen or 3.33%).

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

“Following the down close on Jan 12, the stock is likely to move lower with immediate support at 42.5 sen.

“A fall below 42.5 sen would put pressure on the stock down to the subsequent support zone, 40 sen – 41 sen.

“The hurdle is pegged at 46.5 sen. A crossover of 46.5 sen should see further price rise to the next overhead resistance zone, 48.5 sen – 50 sen,” it said.

AllianceDBS Research said stock volume traded on Jan 12 was 12.2 million shares compared to the 3-month average volume of 3.2 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 a neutral zone.

 

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