RHB Retail Research
Trading Stocks - Petra Energy
Petra Energy formed a long white candle, indicating that the momentum of buying could be strong. With the 21-day SMA line edging upwards, this also implies a positive outlook sentiment. A bullish bias may emerge above the MYR1.20 level, with an exit set below the MYR1.01 threshold. Towards the upside, the immediate resistance is at MYR1.30. This is followed by the MYR1.40 threshold.
Source: RHB Securities Research - 4 Oct 2019
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