In its evening edition yesterday, the research house said E&O fell below the 50-day moving average line on April 10 after spending 6 days between the 20-day and 50-day MA lines. “Following the down close on April 10, the stock is likely to move lower with immediate support at RM1.85. “A fall below RM1.85 should see further price decline to the subsequent support zone, RM1.70 – RM1.80. AllianceDBS Research said stock volume traded on April 10 was 1.37 million shares compared to the 3-month average volume of 2.46 million shares. The research house said that indicators wise, the MACD was below the 9-day moving average line with the sell signal remains intact.

Source: The Edge Markets April 10, 2017 21:56 UTC