Similarly, a key bottom reversal pattern is starting to take shape on CIMB's daily chart. CIMB's share price rose 13 sen to end at RM7.29 yesterday, just 3 sen away from the "Inverted Head and Shoulders" neckline resistance. The key indicators are also supportive of a move higher in the coming days, and we reckon that it could be a real possibility that the neck-line resistance gets taken out soon. Traders should watch for a decisive close above the aforementioned neck-line resistance, and should buy-signal be triggered, the share price could potentially extend its gains towards RM7.74 next. A stop-loss of RM7.29 (3 bids below the neck-line) should also be placed.

 

Source: Kenanga