CIMB Group was testing the resistance level of RM5.33 in its latest session with higher trading volume. With the momentum indicator RSI above 60%, the short-term rebound could reach a target level of RM5.50. If it fails to cross RM5.55 in the coming sessions, it will continue to move sideways and consolidate. Support level is anticipated at RM5.20 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM5.33

Target: RM5.50 (time frame: 3-6 weeks)

Exit: RM5.20

Source: AmInvest Research - 26 Jun 2019