KUALA LUMPUR (Jan 17): AllianceDBS Research said Gadang Holdings Bhd (Gadang) was consolidating and that Gadang had on Jan 16 tested last Friday’s low of RM1.03 before closing at the day’s high of RM1.05 (up 1 sen or 0.96%). In its evening edition yesterday, the research house said Gadang continued to stay above the 20-day and 50-day moving average lines in the last 10 market days. “Given the price action in recent days, the stock is likely to move between RM1.02 and RM1.09 in the coming few days. AllianceDBS Research said stock volume traded on Jan 16 was 2.78 million shares compared to the 3-month average volume of 10.9 million shares. The research house said that indicators wise, the MACD was marginally above the 9-day moving average line with the buy signal remains intact.

Source: The Edge Markets January 16, 2017 23:50 UTC