RHB Investment Research Reports
Trading Stocks - CIMB
rhbinvest
Publish date: Wed, 07 Aug 2024, 09:45 AM
rhbinvest
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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
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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 stage a technical breakout after testing the immediate resistance level with strong volume. The stock printed a bullish candlestick and crossed above the 21-day SMA line, showing that bullish momentum is picking up again. If it breaks past the MYR7.25 resistance level, we expect follow-through price action to test the next resistance at MYR7.60, followed by the one at MYR7.90. A fall below the MYR7 support level would kick off the bearish phase.
Source: RHB Securities Research - 7 Aug 2024
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
