PRTASCO is on the investor’s radar after a research house pointed out that the road maintenance and construction player’s orderbook which currently stood at RM709m, may skyrocket to RM1.0b this year. Earnings prospect of PRTASCO looks promising, with the catalyst coming from both property, and oil and gas segment. At yesterday’s closing price of RM1.74, the share price was up 10 sen for the day. Trading volume was notably higher, after it broke above RM1.60 (the “Saucer Bottom” resistance level). Should follow-through momentum carry the share price beyond RM1.78 in the near-term, the share price could potentially rally towards RM1.86 and RM2.00 next. Failing which, we may see a retreat towards the RM1.60 level where we see strong support.

 

Source: Kenanga