KUALA LUMPUR (Sept 8): AllianceDBS Research said Westports Holdings Bdh (Westports) was consolidating and that Westports had on Sept 7 traded lower to RM4.08 before rebounding to close at the day’s high of RM4.22 (up 1 sen or 0.23%).

In its evening edtition yesterday, the research house said Westports continued to swing around the 20-day and 50-day moving average lines in the last 13 days.

“Given the recent share price actions, the stock is likely to move between RM3.96 and RM4.25 in the coming few days.

“A crossover of RM4.25 should see further price rise to the next overhead resistance at RM4.44.

“However, fall below RM3.96 would put pressure on the stock down to the subsequent support zone, RM3.75 – RM3.81,” it said.

AllianceDBS Research said stock volume traded on Sept 7 was 1.55 million shares compared to the 3-month average volume of 5.59 million shares.

The research house said that indicators wise, the MACD was marginally above the 9-day moving average line with the buy signal remains intact.

It said the relative strength index indicated that the stock was currently in the neutral zone.