Rakuten Trade Research Reports
Technical View - Barakah Offshore Petroleum (7251)
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Publish date: Mon, 11 Feb 2019, 10:12 AM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
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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