AmInvest Research Reports
Stocks on Radar - CIMB Group Holdings (1023)
AmInvest
Publish date: Tue, 24 Mar 2020, 09:11 AM
AmInvest
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
CIMB Group Holdings was consolidating with the immediate resistance level of RM3.46. Notice that the RSI indicator is hooked in the oversold region. This indicates that there is a possibility it will experience a technical rebound above the resistance level and may move towards the short-term target prices of RM3.70 and RM3.86. The downside support is anticipated at RM3.13, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM3.46
Target: RM3.70, RM3.86 (time frame: 3-6 weeks)
Exit: RM3.13
Source: AmInvest Research - 24 Mar 2020
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