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Rakuten Trade Research Reports

Author: rakutentrade   |   Latest post: Fri, 15 Feb 2019, 09:23 AM

 

Technical View - Barakah Offshore Petroleum (7251)

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Barakah Offshore Petroleum (7251) 

  • BARAKAH gained 1 sen or 11 % to close at RM0.10 last Friday.
  • Since our technical buy report on 28Jan 2019, share price has gained 17.6% to its 3-month high last Friday. We believe the sentiment for oil & gas related stocks is further buoyed by rising Crude Oil Price to above USD60 coupled with bullish white candle and improving momentum indicator for more potential upside.
  • Should the buying momentum persist, resistance levels are seen at RM0.125 (R1) and further to RM0.135 (R2).
  • Conversely, support levels can be seen at RM0.055 (51) and RM0.040 (S2).

Source: Rakuten Research - 11 Feb 2019

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Labels: BARAKAH

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Chart Stock Name Last Change Volume 
BARAKAH 0.10 -0.02 (16.67%) 45,726,400 

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