CARIMIN trade ideas
CARIMINRecent breakout failed. May bounce on trendline and test previous high at 0.80..if break trendline price will drop to 0.66.. All depend on world oil price.
CARIMIN Fast Turtle Buy - Potential Breakout above 0.775+Fast Turtle Buy with strong volume forming Bullish Morning Star Pattern
+ Near TRENDLINE support and bouncing off from Fibo retracement 0.382.
+Managed to stay ABOVE ema50. (Bullish)
+FiFT spike indicating BULL is recharge.
+ATOM Buy pops-up for the first time after 1+ month.
Plan :-
Buy at pullback or around 0.725. Price need to stay above 0.725
Further buy if price breaks 0.775
Cut if price breaks TrendLine (Pink Line)
Carimin, breakout neckline....Support line 0.67sen. Resistance 0.775sen.
However, need to stand firm above 0.72sen in Monday.
CARIMIN trying to complete Cup & Handle PatternAfter complete "Cup shape" on 06 April 2020, CARIMIN make a long retrace which is most likely Falling Wedge as it's Handle. On First week of May 2020, CARIMIN already breakout it's Cup & Handle Pattern with strong gap-up movement and it is happen twice showing that CARIMIN will make come back. USOIL price also closed high on last Friday (08 May 2020) which is a good reason for CARIMIN to break a strong resistance point at 0.765cent. Once break this resistance, CARIMIN will fly to test next resistance at 0.955cent
Oil news is out !Stocks that are going to focus on 12 May 2020, will be on the oil counter stocks which is CARIMIN is one of the favourable counter for me.
Besides, there are a lot of the counter ;
1. Dayang
2. Hibiscus (Most active)
3. Uzma
4. Penergy
5. Serbadk ( So far i would not recommend this counter, wait for the pullback because of undervalue at current position. Need the price correction)
The oil news it out ! It is showtime for the KLCI tommorow...Best of luck !
The oil price just hit highest prices for past of the months...means what ?
Take a look of the price before month of April and compare to the current with the brent oil is $30/barrel !
Resistance 0.735
Support 0.69
TP1 = RM0.76
TP2 = RM0.82
Goodluck traders !
CARIMIN - Downside Limited to Lower Bollinger BandCARIMIN
Rst: 0.65
Spp: 0.565
Being supported by lower BB, no strong buying pressure emerges yet but it's considerably safe point of accumulation.
carimin nak breakout ke?garisan tu adalah paras resistant, jika berjaya lepasinya, tentu stok ini akan meletop lagi.
CARIMINPrediction: Elliot wave
Current at wave 4 to 5
EP: 1.15
TP1: 1.35
TP2: 1.46
TP3: 1.63
Last TP elliot wave 5: 2.05
TradeVSA Stock Review1. MRCB (1651.KL)
2. Carimin (5257.KL)
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
Another opportunity for quick trade? Carimin (5257.kl)Stock code: 5257
Stock name: Carimin Petroleum Bhd
Screener: 18LC for 4 Feb 2019 (www.tradevsa.com)
Observation date: 5 Feb 2019
Section A
Observation:
a) Price & Volume:
- Price: Narrow spread.
- Volume: Low.
b) Market Stage:
- Accumulation stage (S1) between early Mar'18 - end Nov'18 (34 weeks).
c) Trading Range:
- Price trade within between 22sen & 35.5sen (Support 1 & 2).
d) Resistance & Support:
- Price tried to break Support 2 (then was Resistance) 2 times.
- In Peak B (early Oct'18), vol. is higher than the Peak A (mid Apr'18).
Remarks:
- Based on the above observation, price is ready to enter into Markup stage (S2).
Section B
Observation:
a) Price & Volume:
- Price: Wide spread.
- Volume: High (not climatic).
b) Market Stage:
- Markup stage (S2) from early Dec'18.
c) Resistance & Support:
- In Peak C (early Dec'18), price broke Support 2 (then was Resistance) with vol. higher than Peak B.
- After that, price make a pullback above the Support 2 with low vol. This is a good SOS.
- Price encounter UT and fall back to Support 2 line. Notice 2B reversal on 21 Dec'18.
- Price eventually move up and make new high. This process repeat itself when it hit Support 4 (then Resistance).
Remarks:
- Based on the above observation, price already in full gear for S2.
- Currently, price is retracing (pullback). If the pullback succeed, we will make an entry.
Carimin - Testing the Resistance AgainStrength in the background:
1. Mark-Up Stage in the background
2. Re-accumulation stage
3. 2 bars shake out in Re-Accumulation stage
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Looking for the next Buy Signal in Carimin Using 30 Minute ChartSmart Money still testing with low volume after high volume breakout bar in 30 minute.
Low volume test bar is an action by Smart Money to ensure the supply is remove from the market before mark-up
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Disclaimer
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Carimin Break Above Resistance with High VolumeA 18 Line Change bar is a powerful signal that indicates the trend will reverse or continue in Mark-Up stage. High volume 18 Line Change bar show Smart Money ready to absorb the supply at the resistance and pushes the price above the resistance to lock the weak-hand holders from the left.
Based on Carimin daily chart, Smart Money have re-accumulate during the pullback and ready to mark the price higher. The chart come with strong background with accumulation stage follow by mark-up. Looks for the next Sign of Strength near support to trade with lower risk.
Based on hourly chart, Carimin formed a classic Volume Spread Analysis pattern with 4 narrow spread bars low volume just above support level. This is a good potential entry as the narrow bars after Line Change indicates Smart Money are testing the potential supply. If the bar come with low volume, mean it is a successful test.
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This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
3 KLSE Stocks to Keep in Your WatchlistCarimin, Revenue and Focus Lumber showing sign of strength in the background.
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
Carimin (5257.KL) to Form Re-Accumulation with Failed Up-ThrustCarimin daily chart shown 1st Sign of Weakness on 12 December 2018 after the breakout (18 Line Change signal) with +43% gained. We are expecting the stock to reverse after the Up-Thrust with high volume. The subsequent bars didn’t close lower and forming a narrow spread with low volume. Narrow spread bars with low volume is a sign of strength according to Volume Spread Analysis.
Based on the current chart pattern, we notice Carimin is forming a re-accumulation stage. Smart Money tend to test potential seller or supply in this period. We’re expecting the price for Carimin to move sideways and form a shakeout bar (Spring) at the support level.
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
Carimin (5257.KL) Showing Sign of Weakness with Up-ThrustThe Up-Thrust from Volume Spread Analysis is a money-making manoeuvre by the Smart Money to trap the unwary into buying. Prices are marked up at the open. High volume shows selling by the Smart Money while low volume shows their lack of interest in the upside.
After you witnessed a sign of weakness (SOW), the next 2 to 3 bars are important as a confirmation of this weakness. Example of SoW we spotted in Carimin after a gained of +32% since the beginning of Mark-Up stage. The daily chart show there are distribution at the top with high volume.
Lookout for Sell-Off bar with high volume as this is the confirmation of distribution by the Smart Money.
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
