KUALA LUMPUR (Dec 19): AllianceDBS Research said Destini Bhd (Destini) had on Dec 18 crossed over the 16.5 sen hurdle to settle at the day’s high of 17.5 sen (up 2 sen or 12.9%).
In its evening edition yesterday, the research house said Destini crossed over the 20-day (blue) MA line on Dec 18 to go between the 20-day and 50-day (red) moving average lines.
“Following the up close on Dec 18, the stock is likely to move higher again with immediate hurdle at 19 sen.
“A crossover of 19 sen should see further price rise to the next overhead resistance at 21 sen.
“The support is pegged at 15.5 sen. A fall below 15.5 sen would put pressure on the stock down to the subsequent support zone, 13 sen – 14 sen,” it said.
AllianceDBS Research said stock volume traded on Dec 18 was 12.6 million shares compared to the 3-month average volume of 4.57 million shares.