Carimin Petroleum is in the process of rebounding higher, as it bounced off the support following a recent pullback – heading towards the immediate resistance of MYR0.68. If it manages to move past the immediate resistance – reclaiming a spot above the recent high – buying pressure should continue to propel the stock towards the resistance of MYR0.75, followed by MYR0.81. If it falls below the MYR0.62 support, the momentum may be reversed.

Source: RHB Securities Research - 27 Dec 2021