Hong Wei Giet
Sep 7, 20171 min
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Note @ 01/09/2017
With speculation perspective, SENERGY drop to minimum level of it's history price.
Thus, we can have a buy in position @ RM 1.368
Cut position @ RM 1.28
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Remark:
Significant technical bounce back after the counter hit history low.
Due to Hurricane Harvey have great impact on US oil production and over demand in market sentiment, WTL Crude Oil also bounced and overcome the downward trend as per charting below:-
SENERGY shares price tend to have positive correlation with WTU Crude Oil in long run. Thus, we able to predict the said counter movement.
Based on volume bar which is higher than last 2 months, the counter might able to challenge higher price level in near term.
Save zone to buy in near to RM 1.532
Resistance (1) RM 1.64
Support (1) RM 1.532