KUALA LUMPUR (April 24): AllianceDBS Research said Nexgram Holdings Bhd’s immediate hurdle was at 13 sen and said Nexgram continued to trade above the 20-day and 50-day moving average lines in the last 4 days.

In its evening yesterday, the research house said given the recent share price actions, the stock was expected to move between 13 sen and 10.5 sen in the coming few days.

It said a crossover of 13 sen should see further price rise to the next overhead resistance zone, 13. 5 sen – 14.5 sen.

“However, a fall below 10.5 sen would put pressure on the stock down to the subsequent support zone, 9.5 sen – 10 sen.

“Stock volume traded on April 23 was 13.3 million shares compared to the 3-month average volume of 32.3 million shares.

“Indicator wise, the MACD is above the 9-day moving average line,” it said.