Friday 17 August 2012

Daily Trading Stocks- Petra Energy Bhd

PEnergy should rally further after printing a 52-week high yesterday. A purchase can be made on another close above RM1.80, with a close below yesterday’s low of RM1.70 as a stop-loss. The price target is RM2.20, provided that the three-year resistance level of RM2.00 is violated. Failure to stay above RM1.80 could see it sideways and further support is at RM1.60.

Source: OSK

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