AmInvest Research Reports

Author: AmInvest   |   Latest post: Thu, 12 Dec 2019, 11:00 AM


Stocks on Radar-Carimin Petroleum (5257)

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Carimin Petroleum broke past the resistance price of RM1.10 in the latest session. With the momentum indicator RSI above 60%, it may continue to move towards the target price of RM1.17 followed by RM1.24. If it dips below RM1.10, expect a sideway consolidation again. In this case, the support price is anticipated at RM1.03, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM1.10
Target: RM1.17, RM1.24 (time frame: 3-6 weeks)
Exit: RM1.03

Source: AmInvest Research - 3 Oct 2019

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