KUALA LUMPUR (May 6): AllianceDBS Research said KUB Malaysia Bhd (KUB) had on May 3 tested previous day’s low of 39 sen before closing unchanged at 39 sen.

In its evening edition May 3, the research house said KUB continued to trade below the 20-day (blue) and 50-day (red) moving average lines.

It said given the recent share price behaviour, the stock is likely to move between 38.5 sen and 42.5 sen in the coming few days.

“A crossover of 42.5 sen should see further price rise to the next overhead resistance at 45 sen.

“However, a fall below 38.5 sen would put pressure on the stock down to the subsequent support zone, 35 sen – 36.5 sen,” it said.

AllianceDBS Research said stock volume traded on May 3 was 840,000 shares compared to the 3-month average volume of 4.70 million shares.