Wednesday, October 10, 2012

Technical Analysis Oct 2012: CIMB (1023)

CIMB GROUP HOLDINGS BERHAD

Observation From Chart:

CIMB formed double bottom @ RM7.28 level.

How high will it go?

Other indicator:-
MACD moving toward positive region, uptrend sign.
Stochastics %K still on BUY call.

High probably will retest immediate resistance, RM7.90 level.
If retrace down, MA50 would be immediate support level.
Subsequent support @ MA20 level.

Let's watch closely.

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