Category Archives: Perdana

Stock to Watch: Perdana [7108]

In this article, we shall take a look at Perdana Petroleum and explore how we can utilize all available past data in making price prediction. The focus would only be on the price prediction from 8th of March onward and we shall ignore all other entry and exit signals that had appeared in prior weeks.

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So what are the possibilities ahead? We can see the recent price development as a possible double top, which is not surprising given that the share price has rallied by more than 100% in the past 9 months. Alternatively, we can see the retracement in the end of January as a necessary correction for the share price to move higher. Which is more likely to happen?