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Dolphin in position to trade higher, says AllianceDBS Research
by Cals Wed 23 Sep 2015, 20:34
Dolphin in position to trade higher, says AllianceDBS Research
By theedgemarkets.com / theedgemarkets.com | September 23, 2015 : 7:48 AM MYT
KUALA LUMPUR (Sept 23): AllianceDBS Research said Dolphin International Bhd (Dolphin) was in position to trade higher and that Dolphin had on Sept 22 traded higher to settle at the day’s high of 80 sen (up 3 sen or 3.89%).
In its evening edition Tuesday, the research house said Dolphin continued to trade above the 20-day and 50-day moving average lines in the last 5 days.
“Following the up close on Sept 22, the stock is expected to test higher level again with immediate hurdle at 80 sen.
“A crossover of 80 sen should see further price rise to the next overhead resistance at 85 sen.
“The support is pegged at 75 sen. A fall below 75 sen would put pressure on the stock down to the subsequent support at 72.5 sen,” it said.
AllianceDBS Research said stock volume traded on Sept 22 was 820,000 shares compared to the 3-month average volume of 4.05 million shares.
The research house said that indicators wise, the MACD was 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 overbought zone.
By theedgemarkets.com / theedgemarkets.com | September 23, 2015 : 7:48 AM MYT
KUALA LUMPUR (Sept 23): AllianceDBS Research said Dolphin International Bhd (Dolphin) was in position to trade higher and that Dolphin had on Sept 22 traded higher to settle at the day’s high of 80 sen (up 3 sen or 3.89%).
In its evening edition Tuesday, the research house said Dolphin continued to trade above the 20-day and 50-day moving average lines in the last 5 days.
“Following the up close on Sept 22, the stock is expected to test higher level again with immediate hurdle at 80 sen.
“A crossover of 80 sen should see further price rise to the next overhead resistance at 85 sen.
“The support is pegged at 75 sen. A fall below 75 sen would put pressure on the stock down to the subsequent support at 72.5 sen,” it said.
AllianceDBS Research said stock volume traded on Sept 22 was 820,000 shares compared to the 3-month average volume of 4.05 million shares.
The research house said that indicators wise, the MACD was 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 overbought zone.
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