After this strong run away Gap up, it had continued to rally further and went up to hit the high of 11.9 cents on 5th Oct 2018, this is superb achievement!
At the moment, it is being driven into overbought territories.
Immediate Resistance is at 12.3 cents and next Resistance is at 12.8 cents.
Breaking out of 12.8 cents with good volume, it may propel to drive the price higher towards 15 cents and above.
This is purely base on Technical Analysis.
Not a call to buy or sell.
Please do your own due diligence.
Trade/invest base on your own decision.
Rex International Holding Limited operates as an independent exploration and production company worldwide. Its Oil and Gas segment is involved in oil and gas exploration and production with concessions located in Oman, Norway, the United States, and Trinidad and Tobago. The company’s Non-Oil and Gas segment offers Rex Virtual Drilling technology, which is based on a set of computer algorithms that analyses seismic data to identify the presence of liquid hydrocarbons; Rex Gravity, an exploration technology that finds areas with suitable geological conditions for hydrocarbon accumulations; Rex Seepage, a tool that provides information about oil seepages offshore from beneath the rock strata; and Rexonic, an ultrasound technology for commercial oil well stimulation. Rex International Holding Limited was incorporated in 2013 and is headquartered in Singapore.
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