KUALA LUMPUR (Sept 20): Reach Energy Bhd rose 1.27% in active trade this morning following a positive technical outlook on the stock.

At 9.03am, Reach Energy rose 1.27% or 0.5 sen to 40 sen with 3.89 million shares traded.

RHB Retail Research said Reach Energy may climb higher after posting another white candle and leaving an upside gap.

In a trading stocks note today, the research house said this close has sent the stock to its highest close in more than seven months, thereby enhancing the positive sentiment.

“A bullish bias may emerge above the 38 sen level, with an exit set below the 34.5 sen threshold.

“Towards the upside, the immediate resistance is at 43.5 sen. This is followed by the 46.5 sen level,” it said.