RHB Retail Research
Trading Stocks - Carimin Petroleum
Carimin Petroleum formed a long white candle, indicating that the momentum of buying could be strong. This can be viewed as a continuation of the bulls extending the buying momentum from 10 Jun’s upside gap. A bullish bias may emerge above the MYR0.775 level, with an exit set below the MYR0.715 threshold. Towards the upside, the immediate resistance is at MYR0.875. This is followed by the MYR0.96 level.
Source: RHB Securities Research - 21 Jun 2019
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