Perak Transit Bhd (0186)

• PTRANS gained 2.5% or 2 sen to RM0.83 yesterday.

• After the pullback from recent high of RM0.925, yesterday’s price movement suggests some renewed buying interest supported by higher trading volume. Hence, present share price level could offer an entry opportunity and we expect the buying momentum to persist.

• From here, resistance levels are seen at RM0.90 (R1) and further to RM0.925 (R2).

• On the contrary, support levels are set at RM0.75 (S1) and RM0.775 (S2).

Source: Rakuten Research - 16 Feb 2021