RHB Retail Research
Trading Stocks - Reach Energy
Reach Energy’s buying momentum may have returned after it rose above the 21-day SMA line lately. This upward momentum is likely to continue, given that it has posted a second consecutive white candle. A bullish bias may appear above the MYR0.205 level, with an exit set below the MYR0.165 threshold. Towards the upside, the near-term resistance is at MYR0.25. This is followed by the MYR0.27 level.
Source: RHB Securities Research - 23 Jul 2019
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