Crest Builder Holdings Bhd (8591)

• CRESBLD gained 4.2% or 4 sen to RM0.99 yesterday.

• CRESBLD broke out of its consolidation with a bullish long white candle yesterday on the back of higher trading volume. Positive news on their RM155m new contract secured yesterday, is expected to see follow through buying and likely to rise further to RM1.10 level buoyed with the positive signals from key technical indicators.

• As such, resistance levels are expected at RM1.08 (R1) and RM1.13 (R2).

• On the flip side, downside support levels are seen at RM0.95 (S1) and RM0.87 (S2).

Source: Rakuten Research - 16 Oct 2019