AmInvest Research Reports
Stock on Radar - CIMB Group (CIMB)
AmInvest
Publish date: Wed, 05 Feb 2025, 12:41 PM
AmInvest
0 9,546
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 (CIMB | 1023)
Last Price: RM8.19 | Technical Call: BUY
| Support 1: RM8.00 | Resistance 1: RM8.50 |
| Support 2: RM7.80 | Resistance 2: RM9.00 |
| Shariah Compliant: No | Sector: Financial |
We expect further upside for CIMB Group, given that it broke above the 2-month downtrend line with a long positive candle yesterday. As its 20-day and 50-day EMAs are now converging and likely to turn up in the near term, bullish momentum is strengthening. A bullish bias may emerge above the RM8.00 level with stop-loss set at RM7.78, below the 15 Jan low. Towards the upside, near-term resistance level is seen at RM8.50, followed by RM9.00.
Entry: RM8.00-8.19
Target: RM8.50, RM9.00
Exit: RM7.78
Source: AmInvest Research - 5 Feb 2025
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