PERISAI – RM0.565 ACCUMULATE (TECHNICAL) (Stock Code:0047)
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Perisai Petroleum Teknologi Berhad (PERISAI) manufactures, supplies, commissions, and installs corrosion control products, and inspects and maintains pipes, risers, and heat exchangers for the O&G industry.
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Recommendation
PERISAI’s stock price spiked above its 19 and 50-day SMA and shows that the stock is trending upwards again. Its price surge is confirmed by the positive crossovers on its firm technical indicators. We feel that PERISAI will surge towards the stipulated resistance and target levels above.
ACCUMULATE (TECHNICAL) on dips for PERISAI with good support areas at RM0.43 and RM0.565, and great potential to reach its stipulated resistance areas of RM0.60 and RM0.73 and target levels of RM0.63 and RM0.75. Stop-loss is at RM0.41.
source: Maybank Investment Research
