SKPetro may climb further following yesterday’s firm move. A position can be initiated above the two-month resistance level of RM2.30, and a close below the recent low of RM2.19 can be employed as a stop-loss. Price targets are RM2.50 and RM2.60. Failure to stay above RM2.30 could see sellers returning, and see it continue its sideways trend. Strong support should come at the psychological RM2.00.
Source: OSK
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