Sector: Steel

Analysed on 19/09/21

As mentioned in our previous analysis on PRESTAR, the risk was high when it was trading at the region of RM0.780. PRESTAR failed to break the resistance at RM0.780 and suffered a huge pull back this week. PRESTAR is currently trading at RM0.685, with immediate resistance at RM0.700, and immediate support at RM0.670.

The short-term momentum for PRESTAR has turned weak as EMA25 has sloped downward. It is also worth mentioning that PRESTAR is currently trading below EMA50, which further confirm that the momentum is weak. Investors are advised to trade only where there is sign of rebound or reversal, which could be confirmed with the formation of higher low or EMA25/EMA50 begin to slope upwards again.

--------------------------------------------------------

Follow our FB and telegram channel for more investing and trading analysis. Share it out to your friends and family!

 TELEGRAM ：https://t.me/nottinvest

 FB PAGE ：https://fb.com/NottInvest
--------------------------------------------------------

Cheers
NOTT INVEST 

Disclaimer: 

This content by NOTT INVEST, is in no way a solicitation or offer to buy or sell securities or investment advisory services. 

Readers should always seek the advice of an appropriately qualified professional and perform due diligence before making any investment decisions. 

We shall not be liable for any errors or inaccuracies, regardless of cause.