KUALA LUMPUR (Jan 20): AllianceDBS Research said the immediate hurdle for Gadang Holdings Bhd (Gadang) was at RM1.09 and that Gadang had on Jan 19 tested previous day’s high of RM1.07 before closing at the day’s low of RM1.05 (down 1 sen or 0.94%). In its evening edition yesterday, the research house said Gadang continued to trade above the 20-day and 50-day moving average lines. “Following the down close on Jan 19, 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 19 was 2.86 million shares compared to the 3-month average volume of 11.0 million shares. The research house said that indicators wise, the MACD was above the 9-day moving average line with the buy signal remains intact.

Source: The Edge Markets January 19, 2017 22:45 UTC