KUALA LUMPUR (June 29): AllianceDBS Research said Three-A Resources Bhd (3A) was locking in gains and said 3A had on June 26 traded lower to settle at the day’s low of RM1.14 (down 1 sen or 0.87%).

In its evening edition last Friday, the research house said 3A continued to trade above the 20-day and 50-day moving average lines.

“Following the weak down close on June 26, the stock is likely to move lower again with immediate support seen at RM1.12.

“A fall below RM1.12 should see further decline to the subsequent support zone, RM1.06 – RM1.10.

“The hurdle is at RM1.19. A rise above RM1.19 would lift the stock to the next resistance, RM1.22 – RM1.25,” it said.

The research house said stock volume traded on June 26 was 1.07 million shares compared to the 3-month average volume of 660,000 shares.

AllianceDBS Research 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 the overbought zone.