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Hot Stock Benalec gains 0.88% on favourable outlook for stock
by Cals Wed 17 Jun 2015, 20:50
Hot Stock
Benalec gains 0.88% on favourable outlook for stock
KUALA LUMPUR (June 17): Shares of Benalec Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose in early trade today after AllianceDBS Research said the immediate support for Benalec was at 55.5 sen and said Benalec had on June 16 tested previous day’s low of 56 sen before closing unchanged at 56.5 sen.
At 9.19am, Benalec rose 0.88% or half a sen to 57 sen with 9,400 shares done.
In its evening edition yesterday, the research house said Benalec continued to trade below the 20-day and 50-day moving average lines.
“Following the unchanged settlement on June 16, the stock is likely to move between 55.5 sen and 58.5 sen in the coming few days.
“A crossover of 58.5 sen should see further price rise to the next overhead resistance at 61.5 sen.
“However, a fall below 55.5 sen would put pressure on the stock down to the subsequent support at 53 sen,” it said.
The research house said stock volume traded on June 16 was 880,000 shares compared to the 3-month average volume of 1.67 million shares.
Benalec gains 0.88% on favourable outlook for stock
KUALA LUMPUR (June 17): Shares of Benalec Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose in early trade today after AllianceDBS Research said the immediate support for Benalec was at 55.5 sen and said Benalec had on June 16 tested previous day’s low of 56 sen before closing unchanged at 56.5 sen.
At 9.19am, Benalec rose 0.88% or half a sen to 57 sen with 9,400 shares done.
In its evening edition yesterday, the research house said Benalec continued to trade below the 20-day and 50-day moving average lines.
“Following the unchanged settlement on June 16, the stock is likely to move between 55.5 sen and 58.5 sen in the coming few days.
“A crossover of 58.5 sen should see further price rise to the next overhead resistance at 61.5 sen.
“However, a fall below 55.5 sen would put pressure on the stock down to the subsequent support at 53 sen,” it said.
The research house said stock volume traded on June 16 was 880,000 shares compared to the 3-month average volume of 1.67 million shares.
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