RH Petrogas (technical)

RH Petrogas: UOB Kay Hian issued a Technical BUY call with $0.68 TP, translating into a 22.5% potential return. House is encouraged by the stock’s ability to close above its mid Bollinger band with higher comparative trading volume during the last trading session and is also followed by a +DI/DI crossover with its ADX turning up. UOBKH recommend accumulating the stock at current levels and/or on any retracement towards S$0.54 as the stock could have bottom out at its recent low of S$0.49. In the near term, watch to see if the stock could close above S$0.60, near its immediate trendline. Protective (trailing) stops could be placed at S$0.535. UOB Kay Hian's institutional research has a fundamental BUY with a target price of S$1.40.