SAPNRG - Neutral

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Technical Update: Sapura Energy Berhad (5218)

Based on the weekly chart below, SAPNRG attempted to break its 6-month support turned resistance (R1) at 0.335 during the week (18 Feb 19). The stock churned out 1.381bil volume and it still failed to close above R1.

If you're keen to establish a position in this counter (irregardless whether you're trader or investor), the best timing is probably after it stays firmly above the resistance R1. The shooting star weekly candle indicates the selling pressure when the stock traded near 0.335. Hence, ruling out a downside reversal at this juncture would be premature.

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