KUALA LUMPUR (Aug 14): AllianceDBS Research said Suria Capital Holdings Bhd (Suria) had on Aug 11 tested previous day’s low of RM2.16 before closing near the day’s low at RM2.17 (up 1 sen or 0.46%).

In its evening edition last Friday, the research house said Suria continued to trade above the 20-day (blue) and 50-day (red) moving average lines in the last 5 days.

“Given the recent share price behaviour, the stock is likely to move between RM2.13 and RM2.21 in the coming few days.

“A crossover of RM2.21 should see further price rise to the next overhead resistance zone, RM2.27 – RM2.30.

“However, a fall below RM2.13 would put pressure on the stock down to the subsequent support at RM2.09,” it said.

AllianceDBS Research said stock volume traded on Aug 11 was 130,000 shares compared to the 3-month average volume of 60,000 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.