Perak Transit Bhd (0186)

• PTRANS closed 3.6% or 1 sen higher to RM0.285 last Friday.

• Recent price action indicates positive buying support on the back of higher trading volume. Technically, the positive upticks in the key momentum indicator is also signalling stronger buying momentum and share price is likely to stage breakout above the RM0.30 level.

• Should it break RM0.285 level, next resistance levels are seen at RM0.30 (R1) and RM0.33 (R2).

• On the downside, support levels are expected at RM0.25 (S1) and RM0.22 (S2).

Source: Rakuten Research - 28 Sept 2020