Tuesday, July 3, 2012

Technical Analysis July 2012: CIMB (1023)


CIMB GROUP HOLDINGS BERHAD

Observation From Chart:

CIMB succeed break through bolinger band squeeze.

How high will it go?

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

High probably will break through immediate resistance RM7.70 level.
Subsequent resistance RM7.91 level.
If retrace down, MA20 / MA50 immediate support level.

Let's watch closely.

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