RHB Retail Research
Trading Stocks - Velesto Energy
Velesto Energy was testing the MYR0.365 threshold in its latest session. A bullish bias may be present above this point, with a target price of MYR0.38, followed by MYR0.40. The stock may consolidate further if it cannot breach above the MYR0.365 threshold in the coming sessions. Support may be found at MYR0.33, where traders can exit upon a breach to minimise the downside risk.
Source: RHB Securities Research - 29 Oct 2019
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