Prestar Resources (PRST MK) Technical BUY with +19.5% potential return Last price : RM0.64 Target Price : RM0.685, RM0.765 Support : RM0.60 Stop-loss: RM0.58 BUY with a target price of RM0.765 with stop loss at below RM0.58. Share price has gradually recovered from the low of RM0.56 on 9 Jun 14 as it rebounded off the steeper trendline and successfully closed above the “cloud” yesterday. A higher trading volume of 1.27m shares (vs 20-day average of 0.36m) yesterday signifies renewed interest as PRST rose above the 50.0% Fibonacci retracement level of RM0.625. Additionally, an uptick in the RSI and a positive reading of the MACD point to a significant rise in momentum which in turn should boost share price. As PRST is still trading above the upward sloping 10-day and 21-day SMA lines along the long-term uptrend line, we peg our target price at 1.61x Fibonacci extension level.
Clever Bonescythe double postings gave double booster to Prestar - Prestar Pressing On!
For Those who missed Prestar Rally
There Is A Laggard Worth Considering
Masteel
In Edge Financial Daily There Is A Purported Revival of Iskandar Rail Network of RM1.2 Billions for Masteel/KUB. If confirmed Masteel Should See Better Days Ahead.
Prestar's Guard Rails only depend on Highway Construction. MASTEEL's Long Steel Bars Are Used By MRT Pillars & Building Foundation (Used A Lot By Pintaras Jaya).
THE TIME FOR MASTEEL - THE MASTERS OF LONG STEEL TO PERFORM IS NOW! GREATER KL MRT RM40 BILLIONS PROJECT WILL NEED A LOT OF LONG STEEL!
thanks on the input on MASTEEL. Valuation wise it is underpriced. if they revised dividend policy the counter will definitely fly. will definately watch the counter
Prestar Resources (PRST MK) Technical BUY with +10.3% potential return Last price : RM0.725 Target Price : RM0.765, RM0.80 Support : RM0.70, RM0.60 Stop-loss: RM0.68 BUY with a target price of RM0.800 with stoploss below RM0.68. Since correcting from a previous high of RM0.685 to a 3-month low of RM0.56, Prestar has seen its share price recover above the 10- and 21-day SMA, effectively reversing its downtrend. Since then, the stock price has posted 8 consecutive weeks of gains in tandem with the steady pickup in trading volume as well as rising MACD and RSI indicators. Yesterday’s share price spike, which was accompanied by a higher trading volume of 15.3m shares, suggests that the stock would continue to trend upwards steadily above both the 10- and 21- day SMA lines towards the immediate psychological resistance of RM0.80 in the medium term. Expected Timeframe: 2 weeks to 2 months
RM0.80 is possible not so much the technical indicators but because the dividend of 4 cents per share. that's a good 5%. pretty difficult to find counters offering >5% dividend these days. especially one with relatively ok fundamentals and with prices below NTA.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
barbarian
939 posts
Posted by barbarian > 2014-06-26 16:21 | Report Abuse
Kekekeke bones so funny....if Prestar rm2 I treat you to Crazy Crab or Crab factory...