Prestar Resources has found its footing as it bounced off above the previous breakout level of MYR0.705 recently with strong trading volume – staging a “higher low” formation. If it stays above that level, the positive momentum may propel the stock towards the immediate resistance of MYR0.755, followed by its recent high of MYR0.80. Meanwhile, if it falls below the MYR0.68 support level – below the 21-day SMA line – this expectation will be nullified.

Source: RHB Securities Research - 19 Aug 2021