Carimin Petroleum formed a long white candle, indicating that the momentum of buying could be strong. As the 21-day SMA line is likely to turn higher, it would appear that the bullish sentiment has been enhanced. A bullish bias may appear above the MYR0.31 level, with an exit set below the MYR0.275 threshold. Towards the upside, the near-term resistance is at MYR0.38. This is followed by the MYR0.415 level.

Source: RHB Securities Research - 6 Dec 2018