Rakuten Trade Research Reports
Technical View - CIMB Group Holdings Bhd (CIMB, 1023)
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Publish date: Thu, 31 Oct 2019, 02:26 PM
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Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
CIMB Group Holdings Bhd (1023)
• CIMB gained 1.2% or 6 sen to RM5.09 yesterday.
• Share price rebounded from low of RM4.82 recently and has broken above key short-term moving averages. We expect the rebound to continue supported by positive technical indicators.
• From here, resistance levels are identified at RM5.18 (R1) and RM5.24 (R2).
• Likewise, downside support levels are found at RM5.00 (S1) and RM4.89 (S2).
Source: Rakuten Research - 31 Oct 2019
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