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Carimin

CARIMIN - lookout for upside towards neckline (of cup and handleIt was on its way to complete the handle when the oil steams slows down due to new Covid strain. But seems the +ve momentum is coming back and probably we could see the trend resumes. However in H1, no indicator indicates a reversal yet, probably to wait for better signal during trading day. R 0.680, 0.700, 0.760 (neckline) S 0.650 This will be invalid if the price break support at 0.650. Knowing the cyclical energy sector, we could trade it for short term gain only, and be very strict to cut when the loss still small. Sentimen: Short term bullish Brent/WTI price TAYOR
MYX:CARIMINLong
by sothye
CARIMIN - breaking out from rounding bottom?Moving towards the neckline, stock is making a good run now. MACD+RSI+Stochastic gives good signal for momentum. Do observe the gap zone 0.890-0.995 which is waiting to be filled fast. A safer entry is to entry after its breakout the neckline (0.755) EP 0.760 TP 0.820 (+7%), 0.930 (+22%), 1.0 (+32% physocological support) , 1.07 (+41%) SL 0.705 (+7%) Speed: Super fast with only 57M shares float (24% of 238M shares) Sentiment: Economic recovery theme & bullish oil price TAYOR
MYX:CARIMINLong
by sothye
Will CARIMIN (19/11/2020) continue downside bias ?CARIMIN has been riding downtrend channel since 4-Aug-2020 and currently is on top of parallel channel. Stochastic showing a downside bias with no breakout sign from MACD. Volume are quite heavy in past few days probably due to vaccine/covid recovery theme. If the price action unable to breakout 0.565 resistance zone, it will continue downward in the channel with Support of 0.510, 0.440, and 0.335 being the strongest support. The stock has very small balance float (24% of 238M shares) compared to its similar market capital stock like ALAM (58% of 1307M shares) or THHEAVY (28% of 2221M shares). This adds significant speed to price movement of CARIMIN when Energy theme comes into play. TAYOR
MYX:CARIMIN
by sothye
CARIMIN 1/8/2020Similar to most upstream oil players, it is showing a triangle formation. While it is clear the low highers have been forming over the past few weeks, it is not so clear about the lower lows. Weak economic sentiment and poor investor confidence in O&G since the crash ( in late april) will be a driving factor to determine the price for these counters. If the current price can hold, it will be good. If it doesnt, it may signal a downtrend. Will need to monitor a few more candles to gauge market sentiment towards upstream O&G players.
MYX:CARIMIN
by jasontkj