Petra Energy may climb higher, says RHB Retail Research

Petra Energy may climb higher, says RHB Retail Research
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KUALA LUMPUR (Oct 10): RHB Retail Research said Petra Energy Bhd may climb higher after posting a white candle and hitting its new 52-week high.

In a trading stocks note today, the research house said as the 21-day SMA line is likely to turn higher, the bullish sentiment has been enhanced.

“A positive bias may emerge above the RM1.30 level, with an exit set below the RM1.20 threshold.

“Towards the upside, the immediate resistance is at the RM1.45 mark. This is followed by the RM1.50 threshold,” it said.