Kresta Holdings has defied negative market conditions on Monday morning with its share price increasing more than 5 per cent under strong volumes. More than 800,000 shares were traded, representing the third largest volume in the last three months. More than 200,000 shares were traded at 45¢, an increase of about 8 per cent on Friday’s closing price of 41.5¢.

Kresta’s share price has not traded at these levels since February 2005 when its share price plunged from 55¢ to 43¢. If the company’s share price continues to push through the 43¢ resistance point, technical analysts could see the scope for a sustained rally.