Sunday, January 29, 2012

Technical Analysis Jan 2012: CIMB (1023)


CIMB GROUP HOLDINGS BERHAD

Observation From Chart:

25 Jan 2012, CIMB break down MA50 support level & retest RM7.00 psychology support level.

Unfortunately, 26 Jan 2012, it do break down RM7.00 psychology support level.

How low will it go?

Other indicator:-
1. No reversal candlestick been form.
2. MACD moving toward negative region, downtrend sign.
3. Stochastics %K reach oversold stage but NO trigger buy call yet.

High probably will retest immediate support, RM6.80 level.
Subsequent support @ RM6.65 level.

If rebound, MA50 would be immediate resistance.

Let watch closely for entry opportunity.

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