KUALA LUMPUR (July 16): AllianceDBS Research said JayCorp Bhd had on July 15 traded higher to RM1.01 before closing near the day’s high at RM1.00 (up 3 sen or 3.09%).

In its evening edition July 15, the research house said Jaycorp continued to trade above 20-day (blue) and 50-day (red) moving average lines in the last 2 days.

It said following the up close on July 15, the stock is likely to move higher with immediate hurdle at RM1.03.

“A crossover of RM1.03 should see further price rise to the next overhead resistance zone, RM1.08 – RM1.10.

“The support is pegged at 96 sen. A fall below 96 sen would put pressure on the stock down to the subsequent support at 93 sen,” it said.

AllianceDBS Research said stock volume traded on July 15 was 540,000 shares compared to the 3-month average volume of 90,000 shares.