RHB Retail Research: Perdana Petroleum continues rebound

RHB Retail Research says Perdana Petroleum Berhad continued to a rebound coming from the 21-day SMA line and uptrend line (as drawn in the chart) – indicating that its rebound from mid-March is likely to extend further.

In a trading note, the research house says a positive bias may emerge above MYR0.18 while resistance levels are pegged at MYR0.21, followed by MYR0.225.

“A stop-loss can be placed below MYR0.18,” it says.

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