AHB active, rises 9.38% on positive technicals

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KUALA LUMPUR (April 15): Shares in AHB Holdings Bhd rose 9.38% in active trade this morning following a positive technical outlook on the stock.

At 9.11am, AHB rose 1.5 sen to 17.5 sen with 3.91 million shares traded. The stock had earlier risen to a high of 18 sen.

Public Investment Bank Research said a surge in volume and price was seen in AHB Holdings, while staging for recovery from its consolidation phase.

In a trading ideas note today, the research house said improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term.

“Should resistance level of 17 sen be broken, it may continue to lift price higher to subsequent resistance levels of 18.5 sen and 20 sen.

“However, failure to hold on to support level of 14.5 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.