KUALA LUMPUR (Feb 15): AllianceDBS Research said Pesona Metro Holdings Bhd (Pesona) was at a higher high and that Pesona  had on Feb 14 crossed over the 69.5 sen hurdle to reach a high of 71 sen before closing at 70 sen (up 2 sen or 2.94%).

In its evening edition yesterday, the research house said Pesona continued to trade above the 20-day and 50-day moving average lines.

“Following the up close on Feb 14, the stock is likely to move higher with immediate hurdle at 71.5 sen.

“A crossover of 71.5 sen should see further price rise to the next overhead resistance at 77 sen.

“The support is pegged at 69.5 sen. A fall below 69.5 sen would put pressure on the stock down to the subsequent support at 66 sen,” it said.

AllianceDBS Research said stock volume traded on Feb 14 was 2.94 million shares compared to the 3-month average volume of 3.69 million shares.

AllianceDBS Research said that indicators wise, the MACD was above the 9-day moving average line with the buy signal remains intact.

It said the relative strength index indicated that the stock was currently in an overbought zone.