PublicInvest Research
Carimin - Technical Sell
PublicInvest
Publish date: Tue, 15 Jan 2019, 03:47 PM
PublicInvest
0 11,315
An official blog in I3investor to publish research reports provided by PublicInvest Research team.
All materials published here are prepared by Public Investment Bank Berhad. For latest offers on Public Invest trading products and news, please refer to: https://www.publicinvestbank.com.my/pbswecos/default.asp
PUBLIC INVESTMENT BANK BERHAD (20027-W)
9th Floor, Bangunan Public Bank
6, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
T 603 2031 3011 | F 603 2272 3704 | Dealing Line 603 2260 6718
All materials published here are prepared by Public Investment Bank Berhad. For latest offers on Public Invest trading products and news, please refer to: https://www.publicinvestbank.com.my/pbswecos/default.asp
PUBLIC INVESTMENT BANK BERHAD (20027-W)
9th Floor, Bangunan Public Bank
6, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
T 603 2031 3011 | F 603 2272 3704 | Dealing Line 603 2260 6718
Target Price RM0.500
Last closing price RM0.600
Potential downside -16.6%
- Upside may be capped. CARIMIN’s share price is forming a rounding top, signifying possible halt in prior surging rally. Weakening RSI and fast-paced MACD indicators currently signal an exit to sell into strength, anticipating performance in momentum and trend to remain weak in near term. Should support level of RM0.560 be broken, it may continue to drive price lower to subsequent support level of RM0.500. Note that the potential halt in uptrend presents an opportunity for profit taking instead of intraday short selling.
Source: PublicInvest Research - 15 Jan 2019
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To be fair to the IB, the report is on 15th January...at that time was during retracement (sideways). Now already breakout. So it is foolish to post this article now...
2019-01-30 08:02
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