KUALA LUMPUR (July 14): AllianceDBS Research said the immediate hurdle for Malaysia Airports Holdings Bhd (Airport) was at RM6.22 and that Airport had on July 13 traded higher to RM6.22 before closing at RM6.20 (up 6 sen or 0.97%).

In its evening edition yesterday, the research house said Airport continued to trade below the 20-day and 50-day moving average lines.

“Following the up close on July 13, the stock is likely to move higher again with immediate hurdle seen at RM6.22.

“A crossover of RM6.22 should see further price rise to the next overhead resistance zone, RM6.35 – RM6.40.

“The support is pegged at RM5.97. A fall below RM5.97 would put pressure on the stock down to the subsequent support at RM5.80,” it said.

AlllianceDBS Research said stock volume traded on July 13 2016 was 3.36 million shares compared to the 3-month average volume of 1.48 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.