KUALA LUMPUR (Oct 5): AllianceDBS Research said SapuraKencana Petroleum Bhd (SKPetro) had gapped up and that SKPetro had on Oct 4 gapped up to cross over the RM1.59 hurdle. It said SKpetro continued to trade above the 20-day and 50-day moving average lines in the last 3 days. A fall below RM1.59 would put pressure on the stock down to the subsequent support zone, RM1.50 – RM1.53,” it said. AllianceDBS Research said stock volume traded on Oct 4 was 15.5 million shares compared to the 3-month average volume of 12.2 million shares. The research house said that indicators wise, the MACD was marginally above the 9-day moving average line with a buy signal just being emitted.

Source: The Edge Markets October 04, 2016 22:07 UTC