BURSA Malaysia has shown a bullish sign ahead of the COVID-19 Vaccine arrival. While this is a good news for the market, it may not be so good for those who have taken a long position on gloves and healthcare stocks since the middle of 2020.
We are done and dusted with that theme and it is time for RECOVERY THEME! Of course we will still trade on technicals ;)
Obviously there are many sectors if we are talking about recovery but there is definitely one sector with a huge potential and the show has just begun if you look at the mid term.
THE OIL AND GAS SECTOR
Definitely there are a few stocks in our mind and we don't mind sharing with all of you. We give you value and you give us your support so that we can give you more So here it goes.
DAYANG BERHAD is involved more in the maintenance services of offshore topside and also commissioning service of oil and gas companies. This company has definitely fallen alongside other Oil and Gas counterparts due to the reduction in demand due to Covid pandemic. However, looking at the return in oil and gas sentiment, we believe the stock should have a huge upside given that it was already on an uptrend prior to the pandemic.
Based on technicals we believe this stock should continue its journey to RM1.32 in the short term and further bullishness will cause it to travel towards RM1.50 in the mid-term.
Latest Headline : https://www.theedgemarkets.com/article/dayang-returns-black-3q-after-2q-loss
2) HIBISCUS PETROLEUM
HIBISCUS Petroleum is engaged in exploration and development of oil and gas.
Based on our previous experience, this stock is always in the radar of institutions. Hence, we will be eyeing this as well for a good run up at least for the mid term. Next resistance is seen at RM0.72 and RM0.81.
Wish you all the best in your trading experience.
DISCLAIMER: The stock picks above are not a buy/sell call. They are merely based on our TA and FA. We want our followers to have a higher chance of making profits and minimize losses.
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