KUALA LUMPUR (April 2): AllianceDBS Research said Sapura Energy Bhd (Sapnrg) had on March 30 traded marginally higher to 55 sen before closing near the day’s high at 54.5 sen (up 4 sen or 7.92%).

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

“Following the up close on March 30, the stock is likely to move higher with immediate hurdle at 55.5 sen.

“A crossover of 55.5 sen should see further price rise to the next overhead resistance zone, 58.5 sen – 63 sen.

“The support is pegged at 47 sen. A fall below 47 sen would put pressure on the stock down to the subsequent support zone, 39.5 sen – 40.5 sen,” it said.

AllianceDBS Research said stock volume traded on March 30 was 168 million shares compared to the 3-month average volume of 119.6 million shares.