RHB Retail Research
Trading Stocks - Perdana Petroleum
Perdana Petroleum crossed above the downtrend line (as drawn on the chart), together with the 30-day SMA line, which starting to curve upwards – these point towards a positive outlook. A positive bias may emerge above MYR0.335, while a stop-loss can be placed at below the same level. Resistance points are expected at MYR0.37, followed by MYR0.405.
Source: RHB Securities Research - 15 Oct 2019
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