PRESBHD has been bullish after breaking out of a ‘bullish flag’ chart pattern earlier this month. The share price has since gained 25 sen to close above psychological price level at RM2.02 yesterday. Even so, we note that the RSI has yet to reach overbought levels. In addition, PRESBHD has retreated slightly from Monday’s RM2.16 high. Hence, we believe that this could be a good opportunity to enter into a buy trade @RM1.97  (3 bids below the psychological price level) and target RM2.37. Meanwhile, a stop-loss level should be employed at @RM1.83.

 

Source: Kenanga