KUALA LUMPUR (Nov 1): AllianceDBS Research said Vizione Holdings Bhd (Vizione) had on Oct 31 traded higher to 17 sen before closing unchanged at 16.5 sen.

In its evening edition Tuesday, the research house said Vizione continued to trade above the 20-day (blue) and 50-day (red) moving average lines.

“Following the unchanged settlement on Oct 31, the stock is likely to move lower with immediate support at 15.5 sen.

“A fall below 15.5 sen should see further price decline to the subsequent support zone, 14 sen– 14.5 sen.

“The hurdle is pegged at 17 sen. A rise above 17 sen would lift the stock to the next resistance zone, 19 sen – 20 sen,” it said.

AllianceDBS Research said stock volume traded on Oct 31 was 45.2 million shares compared to the 3-month average volume of 13.5 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.

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