Support zone for Prestariang at RM1.20 – RM1.26, says AllianceDBS Research

Support zone for Prestariang at RM1.20 – RM1.26, says AllianceDBS Research
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KUALA LUMPUR (April 2): AllianceDBS Research said Prestariang Bhd (PresBhd) had on March 30 traded lower to RM1.27 before closing unchanged at RM1.28.

In its evening edition last Friday, the research house said PresBhd continued to trade below the 20-day (blue) and 50-day (red) moving average lines.

“Following the unchanged close on March 30, the stock is likely to move lower again with immediate support at RM1.26.

“A fall below RM1.26 should see further price decline to the subsequent support at RM1.20.

“The hurdle is pegged at RM1.37. A rise above RM1.37 would lift the stock to the next resistance at RM1.50,” it said.

AllianceDBS Research said stock volume traded on March 30 was 260,000 shares compared to the 3-month average volume of 510,000 shares.