AmInvest Research Reports
Stock on Radar - CIMB Group
AmInvest
Publish date: Thu, 01 Aug 2024, 09:03 AM
AmInvest
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An official blog in I3investor to publish research reports provided by AmInvest research team.
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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 broke out from a 3-week bullish rectangle pattern yesterday, implying that its previous uptrend may have resumed. As the stock has surged to a new multi-year high with a long positive candle, the near-term bullish trend may still have legs. A bullish bias may emerge above the RM7.25 level with stop-loss set at RM6.97, below the 50-day EMA. Towards the upside, nearterm resistance level is seen at RM8.00, followed by RM8.50.
Entry : RM7.25–7.43
Target : RM8.00, RM8.50
Exit : RM6.97
Source: AmInvest Research - 1 Aug 2024
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| Chart | Stock | Last | Change | Volume |
|---|---|---|---|---|
 | CIMB | 6.82 | -0.07 (1.02%) | 12,623,100 |
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