KUALA LUMPUR (Oct 5): AllianceDBS Research said V.S. Industry Bhd (VS) had on Oct 4 traded marginally lower to RM1.69 before closing near the day’s low at RM1.70 (down 4 sen or 2.29%).

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

It said following the down close on Oct 4, the stock is likely to move lower again with immediate support at RM1.67.

“A fall below RM1.67 would put pressure on the stock down to the subsequent support at RM1.62.

“The hurdle is pegged at RM1.76.

“A crossover of RM1.76 should see further price rise to the next overhead resistance at RM1.90,” it said.

AllianceDBS Research said stock volume traded on Oct 4 was 9.45 million shares compared to the 3-month average volume of 5.67 million shares.