TECHNICAL ANALYSIS: Uptrend and Bullish

Trend: The stock is clearly in an uptrend. The price is consistently above key moving averages (50-day, 150-day, 200-day), which are all sloping upwards. This is a strong bullish signal.

Volume: There is relatively healthy trading volume that seems to be increasing, particularly during the recent upward price movement. This suggests strong buying interest.

Moving Averages: The stock is trading well above its 200-day, 150-day, 50-day, and 20-day moving averages, which indicates strong bullish momentum. The alignment of the moving averages in ascending order (20-day > 50-day > 150-day > 200-day) is a textbook example of a bullish setup.

Bollinger Bands: The stock price is riding the upper Bollinger Band, which can indicate strong momentum, although it can also suggest the stock is slightly overbought in the short term. However, as long as the price doesn't sharply pull back, it’s generally a positive sign.

RSI: While not directly visible, the RSI level is likely near the upper end (around 70), indicating the stock may be overbought. However, in a strong uptrend, this is not necessarily a sell signal.

MACD: The MACD is positive and trending upwards, indicating continuing bullish momentum.

LATEST FUNDAMENTAL NEWS

1. CIMB Group Holdings 2Q 2024 net profit rose 11% YoY due to higher net interest income and non-interest income. CIMB is Malaysia’s second-largest bank by assets.

2.Loans amount increased in all key markets and business segments, +4.2% YoY. Total deposits grew 2.7% YoY.

3. The Group announced a dividend of 27 sen which is an improvement by 54% YoY.

DETAILS

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​Bursa Announcement

​CIMB Press Release​