KUALA LUMPUR (May 28): AllianceDBS Research said Bina Puri Holdings Bhd (BPuri) was moving sideways and that BPuri had on May 27 traded marginally higher to settle at the day’s high of RM0.55 (up half sen or 0.91%).

In its evening edition yesterday, AllianceDBS Research said BPuri continued to trade below the 20-day and 50-day moving average lines.

“Following the up close on May 27, the stock is likely to move between 53 sen and 57.5 sen in the coming few days.

“A fall below 53 sen should see a further price decline to the subsequent support at 50 sen.

“However, a rise above 57.5 sen would lift the stock to the next resistance zone of 60 sen – 61 sen,” it said.

The research house said stock volume traded on May 27 was 270,000 shares compared to the 3-month average volume of 320,000 shares.

It said that indicator wise, the MACD was below the 9-day moving average line.