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