KUALA LUMPUR (July 22): AllianceDBS Research said PPB Group Bhd (PPB) had gapped down and that PPB had on July 21 gapped down to reach a low of RM15.82 before rebounding to settle at the day’s high of RM16.12 (down 14 sen or 0.86%). AllianceDBS Research said stock volume traded on July 21 was 1.39 million shares compared to the 3-month average volume of 560,000 shares. The research house said that indicators wise, the MACD was below the 9-day moving average line with the sell signal remains intact. In its evening edition yesterday, the research house said PPB fell below the 20-day and 50-day moving average lines on July 21 after spending 1 day between the same 2 MA lines. “A fall below RM15.70 should see further price decline to the subsequent support zone, RM15.20 – RM15.40.

Source: The Edge Markets July 21, 2016 21:56 UTC