KUALA LUMPUR (Jan 8): AllianceDBS Research said Jerasia Capital Bhd was under profit taking presure and that Jerasia had on Jan 7 crossed over the 84 sen hurdle to a high of 85.5 sen before closing at the day’s low of 82 sen (up  half a sen or 0.61%).

In its evening edition yesterday, the research house said Jerasia continued to trade above the 20-day and 50-day moving average lines in the last 2 days.

“Following the weak up close on Jan 7, the stock is likely to move between 79 sen and 85.5 sen in the coming few days.

“A crossover of 85.5 sen again should see further price rise to the next overhead resistance zone, 93 sen – RM1.00.

“However, a fall below 79 sen would put pressure on the stock down to the subsequent support at 75 sen,” it said.

AllianceDBS Research said stock volume traded on Jan 7 was 1.51 million shares compared to the 3-month average volume of 44,000 shares.

The research house said that indicators wise, the MACD was marginally 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 overbought zone.