Mar 24, 2016

Pestech May Trend Upwards

Pestech International  Stock Code : 5219

pestech chart analysis

Pestech International  may trend upwards  after  climbing above the downtrend line and 50-day MAV line. A bullish bias may be present above the MYR6.50 level,  with a target price of MYR7.65,  assuming the  MYR7.05  resistance  can  be  surpassed.  The  stock  may  turnsideways  if  it  falls  back  below  the  MYR6.50  mark.  In  this  case, support  is  anticipated  at  MYR6.25,  where  traders  can  exit  upon  a breach to avoid the risk of a further correction.

source: RHB Research - 24/03/2016

The Company is principally engaged in the provision of comprehensive power system engineering and technical solutions for design procurement and installation of High Voltage and Extra High Voltage substations transmission lines and underground cables for electricity transmision and distribution in the local and international markets and also manufacture proprietary power system components and equipment.