KUALA LUMPUR (Oct 21): AllianceDBS Research said SKP Resources Bhd (SKPRes) had on Oct 20 crossed over the RM1.36 hurdle to reach a high of RM1.40 before closing near the day’s high at RM1.39 (up 3 sen or 2.20%). In its evening edition yesterday, the research house said SKPRes continued to trade above the 20-day and 50-day moving average lines. “Following the up close on Oct 20, the stock is likely to move higher again with immediate hurdle seen at RM1.44. AllianceDBS Research said stock volume traded on Oct 20 was 5.58 million shares compared to the 3-month average volume of 2.13 million shares. The research house said that indicators wise, the MACD was above the 9-day moving average line with the buy signal remains intact.

Source: The Edge Markets October 20, 2016 22:07 UTC