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NewsImmediate support for Datasonic at RM1.37, says AllianceDBS Research
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Immediate support for Datasonic at RM1.37, says AllianceDBS Research
by Cals Wed 14 Oct 2015, 01:44
Immediate support for Datasonic at RM1.37, says AllianceDBS Research
By theedgemarkets.com / theedgemarkets.com | October 13, 2015 : 7:55 AM MYTKUALA LUMPUR (Oct 13): [size=16]AllianceDBS Research said the immediate support for Datasonic Group Bhd (Dsonic) was at RM1.37 and that Dsonic had on Oct 12 tested the previous day’s high of RM1.47 before closing at the day’s low of RM1.42 (down 2 sen or 1.38%).
In its evening edition yesterday, the research house said Dsonic continued to trade above the 20-day and 50-day moving average lines.
“Given the recent share price action, the stock is expected to move between RM1.37 and RM1.50 in the coming few days.
“A crossover of RM1.50 should see a further price rise to the next overhead resistance zone of RM1.55 – RM1.60.
“However, a fall below RM1.37 would put pressure on the stock down to the subsequent support at RM1.30,” it said.
AllianceDBS Researh said stock volume traded on Oct 12 was 6.26 million shares compared to the 3-month average volume of 7.31 million shares.
The research house said that indicators wise, the MACD was marginally below the 9-day moving average line with the sell signal remaining intact.
It said the relative strength index indicated that the stock was currently in the neutral zone.
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