KUALA LUMPUR (Mar 29): AllianceDBS Research said Edaran Bhd (Edaran) had on March 28 traded within previous day’s range to form an inside day bar before closing at 75.5 sen (down 2 sen or 2.58%).

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

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

“Following the down close on March 28, the stock is likely to move lower with immediate support at 74 sen.

“A fall below 74 sen should see further price decline to the subsequent support zone, 68 sen– 70 sen.

“The hurdle is pegged at 82.5 sen. A rise above 82.5 sen would lift the stock to the next resistance zone, 89 sen – 93 sen,” it said.

AllianceDBS Research said stock volume traded on March 28 was 160,000 shares compared to the 3-month average volume of 550,000 shares.