KUALA LUMPUR (April 18): AllianceDBS Research said Ancom Bhd (Ancom) was taking a breather and that Ancom had on April 17 traded within last Friday’s range to form an inside day bar before closing near the day’s high at 53.5 sen (up 1.5 sen or 2.88%).

In its evening edition yesterday, the research house said Ancom continued to trade above the 20-day and 50-day moving average lines.

“The inside day bar indicated a breather in the game play.

“Following the up close on April 17, the stock is likely to move between 50.5 sen and 55.5 sen in the coming few days.

“A fall below 50.5 sen should see further price decline to the subsequent support zone, 47 sen – 48 sen.

“However, a rise above 55.5 sen would lift the stock to the next resistance zone, 58.5 sen – 60 sen,” it said.

AllianceDBS Research said stock volume traded on April 17 was 710,000 shares compared to the 3-month average volume of 410,000 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 a neutral zone.