Support For Destini At 19.5 Sen, Says Alliance DBS Research

KUALA LUMPUR (Jan 4): AllianceDBS Research said Destini Bhd (Destini) had on Jan 3 traded higher to settle at the day’s high of 22 sen (up 2 sen or 10.00%).

In its evening edition yesterday, the research house said Destini continued to trade above the 20-day (blue) and 50-day (red) moving average lines in the last 4 days.

“Following the up close on Jan 3, the stock is likely to move higher with immediate hurdle at 24.5 sen.

“A crossover of 24.5 sen should see further price rise to the next overhead resistance at 26 sen.

“The support is pegged at 19.5 sen. A fall below 19.5 sen would put pressure on the stock down to the subsequent support zone, 15.5 sen – 18 sen,” it said.

AllianceDBS Research said stock volume traded on Jan 3 was 14.5 million shares compared to the 3-month average volume of 5.30 million shares.