CIMB Group Holdings continued its climb and touched the RM4.28 resistance level with sustainable trading volume. With its RSI indicator pointing upwards, coupled with a higher high candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM4.55, followed by RM4.66. The downside support is marked at RM3.95. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM4.28

Target: RM4.55, RM4.66 (time frame: 2-4 weeks)

Exit: RM3.95

Source: AmInvest Research - 17 Feb 2021