Rakuten Trade Research Reports

Technical View - Prestariang Bhd (PRESBHD, 5204)

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Publish date: Tue, 02 Jul 2019, 03:52 PM
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Prestariang Bhd (5204)

  • PRESBHD closed 4.5 sen or 11% higher to RM0.455 yesterday.
  • Share price appears to have bottomed out at the RM0.35 level. PRESBHD ended with a bullish white candle yesterday accompanied by higher-than-average trading volume. We expect the buying momentum to continue following the RM22.94m contract awarded from the Ministry of Finance.
  • As such, resistance levels are expected at RM0.615 (R1) and further to RM0.655 (R2).
  • Conversely, support levels are found at RM0.300 (S1) and RM0.255 (S2).

Source: Rakuten Research - 2 Jul 2019

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