KUALA LUMPUR (May 6): AllianceDBS Research said Securemetric Bhd (Smetric) had on May 3 traded higher to settle at the day’s high of 59 sen (up 3 sen or 5.35%).

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

It said following the up close on May 3, the stock is likely to move higher with immediate hurdle at 59.5 sen.

“A rise above 59.5 sen would see the stock gearing towards the next resistance zone, 64 sen – 66 sen.

“The support is pegged at 54 sen. A fall below 54 sen should see further price decline to the subsequent support zone, 51.5 sen – 52. 5 sen,” it said.

AllianceDBS Research said stock volume traded on May 3 was 3.16 million shares compared to the 3-month average volume of 1.67 million shares.