Friday 29 Mar 2024
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KUALA LUMPUR (July 2): AllianceDBS Research said the immediate support for Daya Materials Bhd (Daya) was at 11 sen and said Daya had on July 1 traded higher to 12.5 sen before closing unchanged at 11.5 sen.

In ite evening edition yesterday, the research house said Daya continued to trade between the 20-day and 50-day moving average lines in the last 5 days.

“Given the recent share price actions, the stock is expected to move between 11 sen and 13 sen in the coming few days.

“A crossover of 13 sen should see further price rise to the next overhead resistance at 15 sen.

“However, a fall below 11 sen would put pressure on the stock down to the subsequent support at 10 sen,” it said.

The research house said stock volume traded on July 1 was 8.18 million shares compared to the 3-month average volume of 6.73 million shares.

AllianceDBS Research said that indicators wise, the MACD was 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.

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