Rakuten Trade Research Reports

Technical View - CIMB Group Holdings Bhd (CIMB, 1023)

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Publish date: Wed, 20 Mar 2019, 10:33 AM
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CIMB Group Holdings Bhd (1023) 

  • CIMB closed 1 sen or 0.2% lower to RM5.47 yesterday.
  • CIMB has shown signs of recovery after touching a recent low of RM5.28 on 11 Mar 2019. We believe the uptrend momentum is likely to continue. Prevailing level provides an attractive entry opportunity as the price is currently trading at 1 standard deviation below its 1-year mean.
  • As such, resistance levels are expected at RM5.51 (R1) and RM5.58 (R2) for the next level.
  • Meanwhile, support levels can be found at RM5.28 (S1) and RM5.21 (S2).

Source: Rakuten Research - 20 Mar 2019

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