PERISAI was up by 10.5 sen (19.8%) to RM0.64, on the back of all-time high trading volume after media news reported that they could possibly secure more projects. Despite nearing overbought levels, key momentum oscillators (Stochastic and RSI) are posting bullish signs implying potential rebound from the recent downtrend. We believe PERISAI could have bottomed-out as it found strong buying support (supported by the 20 and 50-day SMA) at the RM0.48 region. Thus, in light of the bullish sentiment from the positive news flow and stabilization of crude oil prices, we do not rule out PERISAI to hit RM0.70-level in the short-run. Nonetheless, a quick pullback below RM0.52 could suggest further sideways consolidation is needed.

Source: Kenanga