CIMB Group Holdings has been consolidating sideways during recent sessions, with an immediate resistance price of RM5.09. With a rising RSI, it may soon break the resistance level. If this happens, the short-term target prices will be RM5.24 and RM5.35. Support is then anticipated at RM4.98, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM5.09

Target: RM5.24, RM5.35 (time frame: 3-6 weeks)

Exit: RM4.98

Source: AmInvest Research - 27 Aug 2019