Petron Malaysia may climb higher after posting a long white candle and hitting its highest close in nearly three months. In view that the 21-day SMA line is likely to begin turning upwards, this implies a positive outlook sentiment. A bullish bias may appear above the MYR8.15 level, with an exit set below the MYR7.78 threshold. Towards the upside, the nearterm resistance is at MYR9.00. This is followed by the MYR9.80 level.

Source: RHB Securities Research - 3 Sept 2018