Rakuten Trade Research Reports
Technical View - Petron Malaysia Refining & Marketing Berhad
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Publish date: Wed, 28 Dec 2022, 01:04 PM
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Rakuten Trade
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Email: customerservice@rakutentrade.my
- 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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