Buying momentum in PRESBHD has been unrelenting strong as the market is anticipating more oil and gas (O&G) industry training-related contracts coming on board, according to media reports. After breaking out from the previous high last week, the share price recorded a fresh high, after spiking up by 13.0 sen to RM2.40 on active volume yesterday. Chart-wise, the indicators have been bullish without any major sign of weakness yet. Thus, we are positive on PRESBHD while suggesting RM2.50 and RM2.66 as the next key resistance for the stock to break based on Fibonacci projection measurement. In the meantime, a solid support is pegged at RM2.24. 

 

Source: Kenanga