KUALA LUMPUR (April 24): AllianceDBS Research said Supercomnet Technologies Bhd (Scomnet) had on April 23 traded higher to 91 sen before settling near the day’s high of 90.5 sen (up 4 sen or 4.62%).

In its evening edition April 23, the research house said Scomnet continued to trade above the 20-day (blue) and 50-day (red) moving average lines.

It said following the up close on April 23, the stock is likely to move higher with immediate hurdle at 92 sen.

“A crossover of 92 sen should see further price rise to the next overhead resistance at 98 sen.

“The support is pegged at 84 sen. A fall below 84 sen would put pressure on the stock down to the subsequent support zone, 79.5 sen – 81 sen.

“Stock volume traded on April 23 was 4.75 million shares compared to the 3-month average volume of 1.77 million shares,” it said.