RHB Investment Research Reports
Trading Stocks - Reservoir Link Energy
rhbinvest
Publish date: Thu, 09 May 2024, 10:01 AM
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All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
Reservoir Link Energy is eyeing for a technical breakout after again testing the MYR0.34 immediate resistance yesterday on high volume. If a breakout happens, the bullish bias above that level may drive the stock higher towards the MYR0.355 recent high, followed by the MYR0.40 threshold. However, breaching below the MYR0.31 support reverses the momentum, as it trades below the SMA and forms a “lower low” bearish structure.
Source: RHB Securities Research - 9 May 2024
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