Rakuten Trade Research Reports

Technical View - CIMB Group (CIMB, 1023)

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Publish date: Mon, 17 Dec 2018, 10:58 AM
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CIMB Group Holdings Berhad (1023)

 

  • CIMB closed 4 sen or 0.69% lower to RM5.80 last Friday.
  • YTD, CIMB has fallen 11.31% hence providing a good buying opportunity. We believe a potential technical rebound is likely to happen driven by year-end window dressing activities.
  • Resistance levels are seen at RM5.85 (R1) and RM6.03 (R2). Meanwhile, downside support levels are at RM5.41 (S1) and RM5.21 (S2). 

Source: Rakuten Research - 17 Dec 2018

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