Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (June 25): AllianceDBS Research said KSL Holdings Bhd (KSL) was trading below the resistance line and said that KSL had on June 24 traded marginally higher to RM1.73 before closing near the day’s low at RM1.71 (up 1 sen or 0.58%).

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

“Given the recent share price actions, the stock is likely to move between RM1.68 and RM1.76 in the coming few days.

“A crossover of RM1.76 should see further price rise to the next overhead resistance zone, RM1.22 – RM1.87.

“However, a fall below RM1.69 would put pressure on the stock down to the subsequent support at RM1.50 – RM1.55,” it said.

The research house said that stock volume traded on June 24 was 450,000 shares compared to the 3-month average volume of 780,000 shares.

AllianceDBS Research said that indicators wise, the MACD was marginally 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 the neutral zone with upside bias.

      Print
      Text Size
      Share