CIMB Group may climb higher after it formed a second consecutive white candle, leaving an upside gap. As the stock recently rose above the 21-day SMA line, this indicates a positive sign. An upbeat bias may emerge above the MYR3.70 level, with an exit set below the MYR3.49 mark. Towards the upside, the immediate resistance is at the MYR4.04 level, followed by the MYR4.40 threshold.
Source: RHB Securities Research - 20 Apr 2020
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