KUALA LUMPUR (July 5): AllianceDBS Research said the hurdle for Astral Supreme Bhd (Asuprem) was at 12.5 sen Asuprem had on July 4 tested last Friday’s high of 12.5 sen before closing at the day’s low of 12 sen (down half a sen or 4.00%).

In its evening edition yesterday, the research house said Asuprem continued to stay below the 20-day and 50-day MA lines.

“Given the recent price action, the stock is likely to move between 12 sen and 12.5 sen in the coming few days.

“A crossover of 12.5 sen should see further price rise to the next overhead resistance zone, 13.5 sen – 15 sen.

“However, a fall below 12 sen would put pressure on the stock down to the subsequent support at 11 sen,” it said.

AllianceDBS Research said stock volume traded on July 4 was 280,000 shares compared to the 3-month average volume of 1.08 million shares.

The research house said that indicators wise, the MACD was below the 9-day moving average line with the sell signal remains intact.

It said the relative strength index indicated that the stock was currently in a neutral zone.