PENERGY

Sector: Oil and Gas

Analyzed on 17/10/2021

Due to Brent Oil crossing its major resistance level of $80 recently, PENERGY is one of the oil and gas companies that saw its share price rebounded and breakout from its prevailing downtrend. EMA25/50 have seen to be golden crossed, which is a bullish signal. Traders who were aware of the commodity hike could have gained some good short-term returns. Besides the EMA25/50 serving as the supports, we see that RM0.86 should be a support level due to previous dips and resistance. Resistance wise, PENERGY still have reasonable headroom before facing a strong resistance level at RM1.06.

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