RHB Retail Research
Trading Stocks - Carimin Petroleum
Carimin Petroleum formed a long white candle, indicating that the momentum of buying could be strong. In view that the 21- day SMA line is likely to begin turning upwards, this also implies a positive outlook. A bullish bias may emerge above the MYR0.875 level, with an exit set below the MYR0.775 threshold. Towards the upside, the immediate resistance is at MYR1.00. This is followed by the MYR1.10 level.
Source: RHB Securities Research - 28 Jun 2019
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