RHB Retail Research
Trading Stocks - Velesto Energy
Velesto Energy has been trading in a possible accumulation phase over the past six-weeks – above the MYR0.29 support level. This came after it experienced an upward move between early January and early July. A positive bias may emerge above MYR0.29, while a stop-loss can be placed below the same level. Towards the upside, the resistance points are expected at MYR0.34, followed by MYR0.38.
Source: RHB Securities Research - 23 Sept 2019
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