RHB Investment Research Reports
Trading Stocks - CIMB
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Publish date: Wed, 17 Aug 2022, 08:57 AM
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An official blog in I3investor to publish research reports provided by RHB Research team.
All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
CIMB is poised to extend its upside movement after crossing above the immediate resistance. We noticed the share price has been rising in tandem with the volume, showing that bullish momentum is gaining traction. After the breakout from the MYR5.40 immediate resistance, we expect the follow-through momentum to reach MYR5.60, followed by MYR5.75. On the flip side, breaching below the MYR5.30 support could indicate the bears are back in control.
Source: RHB Securities Research - 17 Aug 2022
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