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NewsImmediate hurdle for Bioalpha Holdings at 31 sen, says AllianceDBS Research
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Immediate hurdle for Bioalpha Holdings at 31 sen, says AllianceDBS Research
by Cals Fri 16 Oct 2015, 18:03
Immediate hurdle for Bioalpha Holdings at 31 sen, says AllianceDBS Research
By theedgemarkets.com / theedgemarkets.com | October 16, 2015 : 7:41 AM MYTKUALA LUMPUR (Oct 16): [size=16]AllianceDBS Research said the immediate hurdle for Bioalpha Holdings Bhd (BioHldg) was at 31 sen and that BioHldg had on Oct 15 tested the previous day’s high of 31 sen before closing at the day’s low of 29.5 sen (down 1 sen or 3.27%).
In its evening edition yesterday, the research house said BioHldg continued to trade above the 20-day and 50-day moving average lines.
“Following the down close on Oct 15, the stock is likely to move between 29 sen and 31 sen in the coming few days.
“A crossover of 31 sen should see a further price rise to the next overhead resistance zone of 34 sen – 35 sen.
“However, a fall below 29 sen would put pressure on the stock down to the subsequent support at 28 sen,” it said.
AllianceDBS Research said stock volume traded on Oct 15 was 6.60 million shares compared to the 3-month average volume of 3.00 million shares.
The research house said that indicators wise, the MACD was above the 9-day moving average line with the buy signal remaining intact.
It said the relative strength index indicated that the stock was currently in the neutral zone.
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