RHB Retail Research
Trading Stocks - Perdana Petroleum
Perdana Petroleum formed a long white candle, indicating that the momentum of buying could be strong. Since the 21-day SMA line is likely to begin turning upwards, this implies a positive outlook. A positive bias may emerge above the MYR0.41 level, with an exit set below the MYR0.38 threshold. Towards the upside, the immediate resistance is at the MYR0.465 level, followed by the MYR0.50 threshold.
Source: RHB Securities Research - 13 Nov 2019
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