Carimin Petroleum formed a long white candle, indicating that the momentum of buying could be strong. This close is the stock’s highest in more than 10 months, which enhances the positive sentiment. A bullish bias may emerge above the MYR0.40 level, with an exit set below the MYR0.36 level. Towards the upside, the immediate resistance is at MYR0.49. This is followed by the MYR0.565 level.

Source: RHB Securities Research - 12 Dec 2018