RHB Investment Research Reports
Trading Stocks - Carimin Petroleum
rhbinvest
Publish date: Tue, 08 Aug 2023, 11:00 AM
rhbinvest
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An official blog in I3investor to publish research reports provided by RHB Research team.
All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
Carimin Petroleum is set to trend upwards further as it climbed above the MYR0.88 immediate resistance, on improved volume. The bullish bias above that level may see the stock rebound higher towards MYR0.955, followed by the MYR1 threshold. However, falling below the MYR0.825 support would indicate a reversal in trend (towards the south), as it forms a “lower low” bearish pattern, below the 21-day SMA line.
Source: RHB Securities Research - 8 Aug 2023
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