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NewsImmediate support for Destini at 57.5 sen, says AllianceDBS Research
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Immediate support for Destini at 57.5 sen, says AllianceDBS Research
by Cals Tue 01 Dec 2015, 20:29
Immediate support for Destini at 57.5 sen, says AllianceDBS Research
By theedgemarkets.com / theedgemarkets.com | December 1, 2015 : 7:40 AM MYTKUALA LUMPUR (Dec 1): [size=16]AllianceDBS Research said the immediate support for Destini Bhd ([You must be registered and logged in to see this image.] Valuation: 1.10, Fundamental: 1.40) was at 57.5 sen and that Destini had on Nov 30 tested last Friday’s day’s high of RM0.59 before closing at 58.5 sen (up half a sen or 0.86%).
In its evening edition yesterday, the research house said Destini continued to trade below the 20-day and 50-day moving average lines in the last 2 days.
“Following the marginal up close on Nov 30, the stock is likely to move between 57.5 sen and 61 sen in the coming few days.
“A crossover of 61 sen should see further price rise to the next overhead resistance zone, 63.5 sen – 64.5 sen.
“However, a fall below 57.5 sen would put pressure on the stock down to the subsequent support at 55 sen,” it said.
AllianceDBS Research said stock volume traded on Nov 30 was 180,000 shares compared to the 3-month average volume of 690,000 shares.
The research house said that indicators wise, the MACD was below the 9-day moving average line with the sell signal remains intact.
It said the relative strength index indicated that the stock was currently in the neutral zone.
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