RHB Retail Research
Technical Analysis - Reach Energy
Reach Energy
Reach Energy formed a long white candle yesterday, indicating that momentum of buying could be strong. This can be viewed as a continuation of the bulls extending the upward momentum from 28 Aug’s upside gap. A bullish bias may emerge above the MYR0.35 level, with an exit set below the MYR0.305 threshold. To the upside, the immediate resistance is at MYR0.40. This is followed by the MYR0.435 level.
Source: RHB Securities Research - 14 Sept 2018
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