KUALA LUMPUR (June 18): AllianceDBS Research said GDB Holdings Bhd (GDB) had on June 17 traded higher to 60 sen before closing off the day’s high at 58 sen (up 1.5 sen or 2.65%).

In its evening edition June 17, the research house said GDB continued to stay below 20-day (blue) and 50-day (red) moving average lines in the last 4 days.

It said following the off day’s high up close on June 17, the stock is likely to move lower with immediate support at 55 sen.

“A fall below 55 sen should see further price decline to the subsequent support at 50 sen.

“The hurdle is pegged at 62.5 sen. A rise above 62.5 sen would see the stock gearing towards the next resistance at 65 sen,” it said.

AllianceDBS Research said stock volume traded on June 17 was 4.94 million shares compared to the 3-month average volume of 51.2 million shares.