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NewsImmediate support for SapuraKencana at RM2.34, says AllianceDBS Research
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Immediate support for SapuraKencana at RM2.34, says AllianceDBS Research
by Cals Wed 15 Jul 2015, 21:12
Immediate support for SapuraKencana at RM2.34, says AllianceDBS Research
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By theedgemarkets.com / theedgemarkets.com | July 15, 2015 : 8:13 AM MYT
KUALA LUMPUR (July 15): [size=14]AllianceDBS Research said the immediate support SapuraKencana Petroleum Bhd (SKPetro) was at RM2.34 and said SKPetro had on July 14 traded marginally higher to RM2.46 before closing near the day’s low at RM2.32 (down 9 sen or 3.73%).
In its evening edition yesterday, the research house said SKPetro continued to trade below the 20-day and 50-day moving average lines.
“Following the down close on 14 July 2015, the stock is expected to test lower level again with immediate support seen at RM2.34.
“A fall below RM2.34 would put pressure on the stock down to the subsequent support at RM2.22.
“The hurdle is at RM2.49. A crossover of RM2.49 should see a further price rise to the next overhead resistance zone, RM2.56 – RM2.59,” it said.
The research house said stock volume traded on July 14 was 10.4 million shares compared to the 3-month average volume of 10.9 million shares.
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By theedgemarkets.com / theedgemarkets.com | July 15, 2015 : 8:13 AM MYT
KUALA LUMPUR (July 15): [size=14]AllianceDBS Research said the immediate support SapuraKencana Petroleum Bhd (SKPetro) was at RM2.34 and said SKPetro had on July 14 traded marginally higher to RM2.46 before closing near the day’s low at RM2.32 (down 9 sen or 3.73%).
In its evening edition yesterday, the research house said SKPetro continued to trade below the 20-day and 50-day moving average lines.
“Following the down close on 14 July 2015, the stock is expected to test lower level again with immediate support seen at RM2.34.
“A fall below RM2.34 would put pressure on the stock down to the subsequent support at RM2.22.
“The hurdle is at RM2.49. A crossover of RM2.49 should see a further price rise to the next overhead resistance zone, RM2.56 – RM2.59,” it said.
The research house said stock volume traded on July 14 was 10.4 million shares compared to the 3-month average volume of 10.9 million shares.
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