Renewable Energy, CIMB has a technical Sell Call on stock yesterday, noting that a double top can be seen on this stock and prices fell below the neckline at $0.20 last wk. Unless prices can rebound back above this neckline resistance, expect selling to accelerate…
Note that both indicators are still in sell mode but the RSI sports a bullish divergence which could give prices a short boost. However as long as prices remain below $0.20, CIMB remains bearish on the stock. Downside support isS$0.17 and $0.155. Strong resistance is at $0.215 and $0.23.
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