Highlights / Stock Picks of the Day - Sapurakencana Petroleum Berhad

Sapurakencana Petroleum Berhad ("SKPETRO") made a strong rebound after the share price formed a Bullish reversal candlestick on Friday. An upward sloping support line also seems to be forming to provide a short term bottom. With the share price making a decisive close above the upper  channel resistance (at RM2.38) on Tuesday, we believe it is a signal for further gains ahead, particularly with the indicators showing
signs of life. The MACD has just crossed the signal line to chart a shift from bearish to bullish momentum, while the RSI has also inched higher into the mild bullish territory at 58.4. Look to buy on weakness.

Source: Kenanga