DNeX could move past 77 sen consolidation phase, says RHB Research

DNeX could move past 77 sen consolidation phase, says RHB Research
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KUALA LUMPUR (Sept 17): Dagang NeXchange Bhd (DNeX) could move past its consolidation phase of 77 sen, after bouncing off the 21-day simple moving average line on better trading volume, said RHB Research.

In a trading note today, it said an uptrend bias will likely emerge if DNeX breaks that level, propelling the stock towards the next resistance of 86.5 sen, its recent high, followed by the 93.5 sen multi-week high.

"Conversely, falling below the 70.5 sen support will cancel this expectation," it noted.