RHB Retail Research
Technical Analysis - Carimin Petroleum
Carimin Petroleum may rise higher after it formed a second consecutive white candle. With the 21-day SMA line edging upwards, this suggests a likelihood of increasing demand in the coming sessions. A bullish bias may emerge above the MYR0.39 level, with an exit set below the MYR0.335 threshold. Towards the upside, the immediate resistance is at MYR0.46. This is followed by the MYR0.50 level.
Source: RHB Securities Research - 26 Dec 2018
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