AmInvest Research Reports

Author: AmInvest   |   Latest post: Tue, 15 Oct 2019, 10:06 AM


Stocks On Radar - Petron Malaysia Refining & Marketing (3042)

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Petron Malaysia Refining & Marketing was testing the RM6.78 level in its latest session. With a neutral RSI level, it may move higher above this point with a target price of RM7.20, followed by RM7.75. Meanwhile, it may continue trending sideways if it fails to cross the RM6.78 mark in the near term. In this case, support is anticipated at RM6.40, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM6.78

Target: RM7.20, RM7.75 (time frame: 3-6 weeks)

Exit: RM6.40

Source: AmInvest Research - 12 Feb 2019

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