Petronas Chemicals may move higher, says RHB Retail Research

Petronas Chemicals may move higher, says RHB Retail Research
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KUALA LUMPUR (Dec 16): RHB Retail Research said Petronas Chemicals Group Bhd may move higher after it continued holding above the RM6.96 support.

In a trading stocks note today, the research house said as the stock rose above the 21-day SMA line, this indicates a positive sign.

“A positive bias may emerge above the RM7.15 level, with an exit set below the RM6.96 threshold.

“Towards the upside, the immediate resistance is at the RM7.48 mark. This is followed by the RM7.80 level,” it said.