KUALA LUMPUR (July 9): AllianceDBS Research said that Euro Holdings Bhd (Euro) was taking a breather and that Euro had on July 8 traded within previous day’s range to form an inside day bar before closing at RM0.67 (down 1.5 sen or 2.19%).

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

“The inside day bar indicated a breather in the game play.

“Following the down close on July 8, the stock is likely to move between 64 sen and 70 sen in the coming few days.

“A fall below 64 sen should see further price decline to the subsequent support at 61 sen.

“However, a rise above RM0.70 would lift the stock to the next resistance, 72 sen – 74.5 sen,” it said.  

AllianceDBS Research said stock volume traded on July 8 was 780,000 shares compared to the 3-month average volume of 330,000 shares.

The research house said that indicators wise, the MACD was marginally 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 neutral zone.