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Rakuten Trade Research Reports

Author: rakutentrade   |   Latest post: Mon, 23 Sep 2019, 2:26 PM

 

Technical View - REACH ENERGY (REACH,5256)

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REACH ENERGY BHD (REACH,5256) 

  • REACH closed at RM0.375 yesterday, down 1 sen or 2.60%.
  • Recent positive news on the discovery of oil-bearing reservoir in Kazakhstan coupled with current favourable oil price could emerge as a potential catalyst for share price rebound.
  • Hence, we expect follow-through buying momentum to next level at RM0.415 (R1) and possibly further to RM0.460 (R2).
  • Meanwhile, immediate supports are expected at RM0.350 (S1) and RM0.345 (S2). 


Source: Rakuten Research - 30 Oct 2018

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Labels: REACH

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Chart Stock Name Last Change Volume 
REACH 0.21 +0.005 (2.44%) 10,106,200 

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