Rakuten Trade Research Reports

Technical View - Petron Malaysia Refining & Marketing Berhad

Publish date: Wed, 28 Dec 2022, 01:04 PM
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  • Share price closed 1.4% higher at RM4.35 on Tuesday.
  • PETRONM has been on a consolidation mode for the past 6 months and had broken it’s resistance at RM4.33 yesterday. With a bullish MACD crossover 2 days ago plus its indicators currently showing uptick momentum, the share price is expected to trend higher.
  • Resistance levels are identified at RM4.60 (R1) and RM4.67 (R2).
  • On the flipside, support levels are pegged at RM4.20 (S1) and RM4.11 (S2).

Source: Rakuten Research - 28 Dec 2022

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