KUALA LUMPUR (Dec 16): AllianceDBS Research said Ajiya had on Dec 15 traded higher to 67 sen before closing at 66 sen (up 1 sen or 1.53%).

In its evening edition yesterday, the research house said Ajiya continued to stay below the 20-day and 50-day moving average lines.

“Following the up close on Dec 15, the stock is likely to move higher again with immediate hurdle at 68 sen.

“A rise above 68 sen would lift the stock to the next resistance zone, 73 sen – 76 sen.

“Price support is seen at 63.5 sen. A fall below 63.5 sen should see further price decline to the subsequent support at 62.5 sen,” it said.

AllianceDBS Research said stock volume traded on Dec 15 was 740,000 shares compared to the 3-month average volume of 740,000 shares.

The research house said that indicators wise, the MACD was marginally above the 9-day moving average line with a buy signal just being emitted.

It said the relative strength index indicated that the stock was currently in a neutral zone.