CIMB

Sector: Financial Services

Analysed on 29/08/2021

CIMB share price has been on an uptrend since Nov 2020. Formation of higher highs and higher lows have provided the indication that the uptrend rally is still intact. CIMB managed to break its resistance at RM 4.75 on 24 August 2021 and closed at RM 4.89 on last Friday. We believe that the recent resistance breakout could be driven by the market expecting a good QR by end of this month. Investors should take note that CIMB has just entered the overbought region based on RSI. Investor who is interested in CIMB can take the support level as reference for entry point.

Reason to monitor: Technical Breakout

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