Tuesday, April 10, 2012

Technical Analysis Apr 2012: CIMB (1023)


CIMB GROUP HOLDINGS BERHAD

Observation From Chart:

CIMB is forming higher high & higher low.

Will it break through RM7.80 level & create another new high record?

Other indicator:-
1. MACD trade at positive region, uptrend sign.
2. Stochastics %K already trigger BUY call.

High probably will retest RM7.80 level.
If market sentiment is bullish, high potential it might break through RM7.80 level.

If retrace down, MA20 would be immediate support.

Let's watch closely.

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