KUALA LUMPUR (May 11): Shares of Vsolar Group Bhd were actively traded this morning after AllianceDBS Research said the immediate support for Vsolar was at 20 sen and said Vsolar had on May 8 tested previous day’s low of 20 sen before closing at 21 sen (up half sen or 2.43%).

 At 9.09am. Vsolar rose half a sen to 21.15 sen with 3.55 million shares done.

In its evening edition last Friday, AllianceDBS Research said Vsolar continued to trade below the 20-day and 50-day moving average lines since April 28.

The research house said following the up close on May 8, the stock is likely to move between 20 sen and 23 sen in the coming few days.

“A crossover of 23 sen should see further price rise to the next overhead resistance at 26 sen.

“However, a fall below 20 sen would put pressure on the stock down to the subsequent support at 16.5 sen,”it said.

AllianceDBS Research said stock volume traded on May 8 was 25.3 million shares compared to the 3-month average volume of 17.3 million shares.