CIMB (Not Rated)

• CIMB declined by 9.0 sen (-1.70%) to end at RM5.20 yesterday.
• Chart-wise, the share has since been trending downwards since the formation of a “Death Cross” in March 2019.
• We observed that CIMB could be entering into a retracement phase after a short rally since early October. Therefore we believe there may be more downsides as the RSI remains lacklustre after coming off from overbought levels.
• From here onwards, overhead resistance can be found at RM5.40 (R1) and RM5.60 (R2).
• Meanwhile, downside supports can be seen at RM5.10 (S1) and RM4.90 (S2).

HLIND (Not Rated)

• HLIND fell 24.0 sen (-2.30%) to close at RM10.36 yesterday.
• Yesterday’s close saw a bearish candlestick which marked the third consecutive bearish candlestick, indicating strong selling momentum.
• Coupled with a bearish MACD Crossover and shorter-term SMAs trading below longer-term SMAs, we thus expect the downtrend to persist.
• With that, key support levels can be seen at RM10.10 (S1) and RM9.80 (S2).
• Conversely, resistance levels can be found at RM10.70 (R1) and RM11.00 (R2).

Source: Kenanga Research - 14 Nov 2019