We believe the buying interest on Carimin Petroleum is back following its breakout above the RM0.69 resistance a few sessions ago. With a new 52-week high coupled with its rising EMAs, additional upside strength may be present in the near term. A bullish bias may emerge above the RM0.69 level, with a stop-loss set at RM0.63, below the 50-day EMA. Towards the upside, the nearterm resistance level is seen at RM0.76, followed by RM0.80.

Entry : RM0.69-0.71

Target : RM0.76, RM0.80

Exit : RM0.63

Source: AmInvest Research - 16 Jun 2023