KUALA LUMPUR (Mar 15): AllianceDBS Research said IOI Properties Group Bhd (IOIPg) had on March 14 traded lower to RM1.76 before closing near the day’s low RM1.77 (down 4 sen or 2.21%).

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

“Following the down close on March 14, the stock is likely to move lower with immediate support at RM1.72.

“A fall below RM1.72 should see further price decline to the subsequent support at RM1.65.

“The hurdle is pegged at RM1.80. A rise above RM1.80 would lift the stock to the next resistance at RM1.90.

AllianceDBS Research said stock volume traded on March 14 was 5.28 million shares compared to the 3-month average volume of 3.24 million shares.