KUALA LUMPUR (April 12): AllianceDBS Research said Malaysia Airports Holdings Bhd (Airport) had on April 11 crossed over the RM7.30 hurdle to an intraday high of RM7.31 before closing near the day’s low at RM7.20 (down 5 sen or 0.69%).

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

“Following the down close on April 11, the stock is likely to move lower with immediate support at RM7.10.

“A fall below RM7.10 would put pressure on the stock down to the subsequent support zone, RM6.88 – RM7.00.

“The hurdle is pegged at RM7.30. A crossover of RM7.30 should see further price rise to the next overhead resistance at RM7.53,” it said.

AllianceDBS Research said stock volume traded on April 11 was 2.97 million shares compared to the 3-month average volume of 3.66 million shares.

The research house said that indicators wise, the MACD was still marginally below the 9-day moving average line with the sell signal remained intact.

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