Perdana Petroleum has rebounded strongly above the 21-day SMA line for the past seven sessions. It tested the immediate resistance level of MYR0.27 yesterday. If a breakout happens above this level, the bulls may drive the stock towards the 52- week high of MYR0.285 , followed by the next resistance level of MYR0.32. On the flip side, a fall below the MYR0.25 support level would negate the bullish setup.
Source: RHB Securities Research - 31 Jan 2024
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Created by rhbinvest | Nov 07, 2024