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Oil and Gas Malaysia News

Author: acinanatucer   |   Latest post: Mon, 9 Dec 2019, 9:24 AM

 

UPTREND IN OIL RELATED STOCKS LIKELY TO CONTINUE

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Oil and gas counters on Bursa Malaysia are the surprise winners so far this year backed by steady recovery in crude oil prices, stabilizing at US$60 per barrel thus helped to prop up investor sentiment on the sector.

The sentiment bodes well as discussions in various investors’ forums expect the situation to positively affect oil related stocks like Sapura Energy Bhd.

The company’s stock leads as the most trading counter on Bursa Malaysia with share price to rise to 28 sen in Nov, highly attainable at a buy call of 26.5 sen.

The upcoming OPEC and US China trade negotiations will be another contributing factor to the uptrend in oil prices, thus positively affect oil and gas counters.

Moving towards 2020, investors will start too nimble and re-adjust their portfolio for next year’s market’s theme as well as re-positioning on stocks. Buying momentum predicted to start rolling soon, so best to buy is while prices are low.

One of the stocks that investors could look into is Sapura Energy Bhd.

Sources link: https://www.linkedin.com/pulse/uptrend-oil-related-stocks-likely-continue-azlan-abu-bakar/

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