PRESBHD edged up higher yesterday to settle at RM2.62 supported by above average daily trading volume. As gleamed from its historical chart pattern, the share price normally rebounded on touching the 20-day SMA. Stochastic and RSI have consolidated from the overbought territory, suggesting that another round of bullish move could be underway. In view of the positive outlook, we are issuing a “Trading Buy” call on PRESBHD and anticipate the share price to move towards a price target of RM2.80, while a "stopped-loss" at RM2.50 should be placed.

Source: Kenanga