RHB Retail Research
Trading Stocks - Carimin Petroleum
Carimin Petroleum may rebound higher after it continued holding above the MYR0.78 support. Given that the stock has formed a “Hammer” pattern on 6 Aug, this indicates a potential rebound. A bullish bias may emerge above the MYR0.815 level, with an exit set below the MYR0.78 threshold. Towards the upside, the immediate resistance is at MYR0.865 level. This is followed by the MYR0.91 level.
Source: RHB Securities Research - 19 Aug 2019
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