CIMB Group Holdings is set to rise towards its 52-week high, after breaching above the immediate resistance of MYR5.22 yesterday – coupled with high trading volume. Bullish momentum above that level should push the stock towards the MYR5.41 resistance – the 52-week high, followed by the multiyear high level of MYR5.73. However, falling below the MYR5.08 support – beneath the 21-day average line – may see the stock descending further.

Source: RHB Securities Research - 7 Dec 2021