Prestariang is consolidating and testing the RM0.57 resistance level. With its RSI indicator pointing upwards, coupled with higher trading volume, we think that there could be a technical breakout towards the short-term target price of RM0.60 followed by RM0.635. In this case, the downside support is marked at RM0.505, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.57

Target: RM0.60, RM0.635 (time frame: 2-4 weeks)

Exit: RM0.505

Source: AmInvest Research - 1 Oct 2020