Wednesday, May 16, 2012

Technical Analysis May 2012: CIMB (1023)


CIMB GROUP HOLDINGS BERHAD

Observation From Chart:

CIMB is forming lowerer high & lower low.

How low will it go?

Other indicator:-
1. MACD moving toward negative region, downtrend sign.
2. Stochastics %K at SELL call itinerary.

High probably will retest RM7.00 psychology level.

If the market sentiment remain bearish, potentially longer term downward correction.

Let's watch closely.

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