KUALA LUMPUR (Sept 30): AllianceDBS Research said the overhead resistance for Malaysia Building Society Bhd (MBSB) was at 96 sen and that MBSB had on Sept 29 traded higher to 95.5 sen before closing near the day’s low at 93.5 sen (down 1 sen or 1.05%).

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

“Following the down close on Sept 29, the stock is likely to move between 88.5 sen and 96 sen in the next few days.

“A fall below 88.5 sen should see further price decline to the subsequent support zone, 83 sen – 86 sen.

“However, a rise above 96 sen would lift the stock to the next resistance at RM1.00,” it said.

AllianceDBS Research said stock volume traded on Sept 29 was 15.1 million shares compared to the 3-month average volume of 23.4 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.