KUALA LUMPUR (Dec 28): RHB Retail Research said Carimin Petroleum Bhd is set to propel northwards as it broke above the 63 sen resistance yesterday on improved trading volume.

In a trading stocks note today, the research house said if the stock manages to stay above that level, the bullish bias above that level may propel the stock higher towards the 70 sen threshold, followed by 75 sen.

“Conversely, the counter may reverse its direction if it falls below the 60 sen support, forming a “lower low” bearish structure below the average line,” it said.