KUALA LUMPUR: Reservoir Link Energy Bhd, which has been on an uptrend, continued to attract investors’ interest in early trade Monday.

       The counter added 1.79%, or one sen to 57 sen with 1.06 million shares traded. Year-to-date, the counter has risen 23.6%. Reservoir-WA fell 0.5 sen to 28 sen.

       Last week, Reservoir Link secured a contract from Roc Oil (Sarawak) Sdn Bhd for the provision of perforation services for drilling and production phase in 2021 and 2022.

       Reservoir Link said its wholly-owned subsidiary, Reservoir Link Sdn Bhd (RLSB) had on Aug 13 received a letter of award from Roc Oil in relation to the provision of perforation services for D35, D21 and J4 drilling and production phase (2021-2022).

       The contract is for a period of two years with an extension option of one year.

       RHB Retail Research said Reservoir Link is extending its upward movement after it breached its immediate resistance of 55 sen on high trading volume.

       “If it manages to stay above that level, the positive momentum may propel the stock towards the immediate resistance of 60 sen, followed by 65 sen.

       Meanwhile, if it falls below the 50 sen support level – below the 21-day SMA line, this expectation will be reversed,” it said.