DAYANG

Analyzed on 19 Feb 2022

Sector: Oil & Gas services

Amid the rising brent oil price, DAYANG has successfully reversed its downtrend and started an uptrend through indication of upward sloping EMA25/50 and forming Higher Lows whenever retraced to its EMAs. DAYANG is now trading at RM0.92, near its EMA support. Thou DAYANG is not an oil field owner (like HIBISCUS) but DAYANG could still indirectly be benefitted by the higher oil price due to it being an oil and gas service provider in the field of maintenance, hook-up and commissioning and vessel charter. Should DAYANG continue its uptrend advance, the major resistance would be at RM1.10 range. 

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