Carimin Petroleum has been trending higher during recent sessions. Higher trading volume was recorded in the latest session. With the momentum indicator RSI above 60%, there is a possibility it will break above the resistance price of RM0.97, and move towards target prices of RM1.01 and RM1.05. The immediate support is anticipated at RM0.93, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy upon breakout above RM0.97

Target: RM1.01, RM1.05 (time frame: 3-6 weeks)

Exit: RM0.93

Source: AmInvest Research - 12 Sept 2019