RHB Retail Research
Trading Stocks - Velesto Energy
Velesto Energy is poised for a technical breakout after moving sideways and retesting the resistance on strong volume recently. The bullish bias may emerge if it breaches the MYR0.16 immediate resistance level. Then, it is likely to climb towards the next resistance at MYR0.185, followed by MYR0.195. If the stock falls below the MYR0.145 support, this expectation will be voided.
Source: RHB Securities Research - 2 Jul 2021
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