Petron Malaysia Refining & Marketing
In its latest technical analysis report on trading stocks, RHB Research is of the opinion that Petron is poised to move higher after bouncing off its support level to hit the MYR7.43 immediate resistance last Friday, supported by strong trading volume. If bullish momentum persists, and it breaches the immediate resistance, the stock may rise towards the MYR8.00 threshold, followed by MYR8.39. However, if it falls below the MYR6.70 support level, it may reverse in trend to move below the 21-day average line
Gas Malaysia
Gas Malaysia, according to RHB Research’s technical analysis report, is in the process of consolidating sideways after a recent retracement. A bullish bias may emerge if it breaches above the MYR3.17 immediate resistance level. In this scenario, the stock may resume its uptrend to reclaim its recent and historical MYR3.30 high, before possibly printing a new high at MYR3.50. If it falls below the support level of MYR3.00,
the stock may trend downwards.
FM Global Logistics Holdings
FM Global is staging an uptrend rebound after jumping above the MYR0.59 level last Friday – forming a “higher high” bullish pattern. If it manages to sustain above this level, the stock may propel towards the MYR0.66 resistance, followed by the MYR0.70 resistance level. Momentum may reverse if it drops below the MYR0.545 support level – forming a “lower low” bearish pattern below the 21-day average line.
Unisem
Unisem is set to rebound higher with renewed bullish momentum, after surpassing the MYR2.90 resistance level on strong volume. If buying interest persists, the bulls may drive the stock towards the MYR3.05 resistance, followed by the MYR3.23 resistance level. Meanwhile, a drop below the MYR2.74 support may reverse the momentum to form a “lower low” bearish structure below the 21-day average line.
