Nott Invest

CIMB TA update

Publish date: Mon, 24 Jan 2022, 08:08 AM
Nott Invest Analyses


Sector: Banking

Analyzed on 23/01/2022

CIMB performed really well at the beginning of the year, rocketing to a high of RM5.67 before retracing to close at RM5.30. At current price, CIMB is near its EMA50 (orange) support, which based on past wave patterns, serves as a strong uptrend support. Despite recent drop, CIMB is still on an uptrend, given that all EMAs are still up trending. There is a high probability CIMB may rebound, but if it does not, CIMB still have two strong supports at EMA100 (RM5.13) and at previous swing low RM5.00.

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