Riverstone Holdings' Share Price May Extend Uptrend, Technical Analysis Shows -- Market Talk
0058 GMT - Riverstone Holdings' share price may extend its uptrend after breaking out of an ascending triangle consolidation pattern on Thursday, based on technical analysis, Phillip Securities Research's Zane Aw says in a research report. This break-out came after the share price found support at the S$0.870 level at the beginning of January, which gives a bullish signal, the analyst says. The moving average convergence divergence indicator also shows increasing momentum and has been holding above the zero line, which supports the bullish view. Initial resistance is pegged at S$0.980, the analyst adds. Shares last closed at S$0.91.