KUALA LUMPUR (Nov 20): RHB Retail Research said Petra Energy Bhd may rise higher after it breached above the RM1.70 threshold.

In a trading stocks note today, the research house said the stock has posted a long white candle and recoded a new 52-week high, thereby enhancing the bullish sentiment.

“A positive bias may emerge above the RM1.72 level, with an exit set below the RM1.55 threshold.

“ Towardsthe upside, the immediate resistance is at the RM2.00 level, followed by the RM2.20 threshold,” it said.