KLSE (MYR): TROP (5401)
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Last Price
1.20
Today's Change
-0.04 (3.23%)
Day's Change
1.19 - 1.24
Trading Volume
3,223,500
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LoveyDovey
24 posts
Posted by LoveyDovey > 2016-02-04 11:02 | Report Abuse
Immediate hurdle for Tropicana at RM1.01, says AllianceDBS Research
By theedgemarkets.com / theedgemarkets.com | February 1, 2016 : 7:09 AM MYT
KUALA LUMPUR (Feb 1): AllianceDBS Research said the immediate hurdle for Tropicana Corporation Bhd was at RM1.01 and that Tropicana had on Jan 29 traded higher at 99.5 sen before closing near the day's high at 99 sen (up 3 sen or 3.12%).
In its evening edition last Friday, the research house said Tropicana continued to stay below the 20-day and 50-day moving average lines in the last 10 days.
"Following the up close on Jan 29, the stock is likely to move higher again with immediate hurdle at RM1.01.
"A crossover of RM1.01 should see further price rise to the next overhead resistance at RM1.05.
"The support is pegged at 96 sen. A fall below 96.5 sen would put pressure on the stock down to the subsequent support at 94 sen," it said.
AllianceDBS Research said stock volume traded on Jan 29 was 930,000 shares compared to the three-month average volume of 1.04 million shares.
The research house said that indicators wise, the MACD was marginally below the nine-day moving average line with the "sell" signal remaining intact.
It said the relative strength index indicated that the stock was currently in a neutral zone.