Nov 30, 2015

Petra Energy May Climb Higher

PENEGY Stock Code 5133

petra energy share analysis

Petra Energy may climb higher after breaching the MYR1.42 level in its latest session. Traders may buy as a bullish bias could be present above  this  level,  with  a  target  price  of  MYR1.53,  followed  by MYR1.62.  The  stock  may  turn  sideways  if  it  cannot  violate  the MYR1.42  mark.  In  this  case,  support  is  anticipated  at  MYR1.34, where traders can exit upon a breach.

source: RHB Research 30/11/2015

Petra Energy Berhad (“Group”) is an integrated brown field services provider with a proven track record spanning over two decades in providing a comprehensive range of services for the upstream oil and gas (O & G) industry. The Group also provides specialist services for the petrochemical and general industries in the domestic, regional and global markets.