KUALA LUMPUR (Sept 11): AllianceDBS Research said the immediate support for Destini Bhd was at 55 sen and that Destini  had on Sept 10 traded marginally lower to settle at the day’s low of 56.5 sen (down half a sen or 0.87%).

In its evening edition yesterday, the research house said Destini continued to fluctuate around the 20-day and 50-day moving average lines in the last 16 days.

“Given the way Destini carried itself, the stock is expected to move between 55 sen and 61.5 sen in the coming few days.

“A fall below 55 sen should see further price decline to the subsequent support zone, 48 sen – 51 sen.

“However, a rise above 61.5 sen would lift the stock to the next resistance at 64 sen,”it said.

AllianceDBS Research said stock volume traded on Sept 10 was 480,000 shares compared to the 3-month average volume of 1.89 million shares.

The research house said indicators wise, the MACD was marginally below 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.