KUALA LUMPUR (Sept 19): RHB Retail Research said Petron Malaysia Refining & Marketing Bhd may rise higher after it breached above the RM10.00 threshold and hit a new 52-week high.

In a trading stocks note today, the research house said with the 21-day SMA line edging upwards, this also implies a positive outlook.

“A bullish bias may be present above the RM10.00 level, with an exit set below the RM9.33 threshold.

“Towards the upside, the immediate resistance level is at RM11.00. This is followed by the RM12.00 level,” it said.