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