Sapura Energy Bhd (5218) 

• SAPNRG closed 1 sen or 3.08% lower to RM0.315 last Friday.
• Share price has shown impressive recovery since it hit 52-week low of RM0.255 with all negative news priced in. We believe the price is set to continue to rebound on the improving sentiment buoyed by the bullish Crude Oil Price rising to US$67/barrel.
• Technically, we expect share price to test resistance levels at RM0.335 (R1) and possibly further to RM0.349 (R2).
• Meanwhile, support levels are expected at RM0.300 (51) and RM0.295 (S2).
• Alternatively, investors may take a position on SAPNRG-WA (5218-WA) for better leverage for further potential upside.