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The Edge Market -LKL Consolidating, Says AllianceDBS Research

KUALA LUMPUR (Aug 3): AllianceDBS Research said LKL International Bhd (LKL) had on Aug 2 traded higher to settle at the day’s high of 15 sen (up 1.5 sen or 11.1%).

In its evening edition yesterday, the research house said LKL crossed above the 20- day (blue) and 50-day (red) moving average lines on Aug 2.

“Given the recent share price behaviour, the stock is likely to move between 13.5 sen and 15 sen in the coming few days.

“A crossover of 15 sen should see further price rise to the next overhead resistance zone, 16.5 sen – 17.5 sen.

“However, a fall below 13.5 sen would put pressure on the stock down to the subsequent support zone, 12 sen – 12.5 sen,” it said.

AllianceDBS Research said stock volume traded on Aug 2 was 1.62 million shares compared to the 3-month average volume of 170,000 shares.

August 3, 2018

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