Carimin Petroleum
As cited in RHB Retail Research’s technical analysis report (Dec 28), Carimin is set to propel northwards as it broke above the MYR0.63 resistance yesterday on improved trading volume. If it manages to stay above that level, the bullish bias above that level may propel the stock higher towards the MYR0.70 threshold, followed by MYR0.75. Conversely, the counter may reverse its direction if it falls below the MYR0.60 support, forming a “lower low” bearish structure below the average line.
Solution Group
Solution is set for a technical rebound, as it bounced off the 21-day average line and pushed past the MYR0.325 resistance yesterday on stronger trading volume. Bullish bias above that level may bring the stock higher towards the MYR0.355 Dec high, then the next resistance point of MYR0.38 – the highest level recorded since 7 Nov. However, the counter may move downwards if it drops below the MYR0.285 support, forming a “lower low” bearish pattern below the average line.
