CIMB Group Holdings is consolidating before testing the RM3.58 resistance level. With the RSI indicator moving into the oversold region, we see that there could be a technical rebound. If this happens, expect it to move towards the short-term target prices of RM3.68 and RM3.78. The downside support is anticipated at RM3.48, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM3.58

Target: RM3.68, RM3.78 (time frame: 2-4 weeks)

Exit: RM3.48

Source: AmInvest Research - 1 Jul 2020