Carimin active, up 1.04% on positive technicals, dividend

Carimin active, up 1.04% on positive technicals, dividend

The Edge Markets - Malaysia·2019-08-30 09:27

KUALA LUMPUR (Aug 30): Carimin Petroleum Bhd shares rose 1.04% in active trade this morning following a positive technical outlook on the stock.

At 9.07am, Carimin rose 1 sen to 97 sen, valuing the company at RM226.86 million.

RHB Retail Research said Carimin Petroleum Bhd may rise higher after it breached above the 94 sen threshold.

In a trading stocks note today, the research house said this upward momentum is likely to continue, given that it has formed a second consecutive white candle.

“A positive bias may emerge above the 94 sen level, with an exit set below the 87 sen threshold.

“Towards the upside, the immediate resistance is at the RM1.00 level. This is followed by the RM1.10 threshold,” it said.

Meanwhile, Carimin yesterday had also declared a second interim dividend of 1.6 sen to be paid on Oct 29.

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