YangZiJiang: CIMB has Technical Buy Call. Note that stock has been consolidating within a short term channel, which could be viewed as a bullish flag pattern and prices are now sitting just above its channel support. Intra-day indicators are now sporting bullish divergences, which suggest that a turnaround from here is possible, with RSI staying above the 40 mark
and is now above its own resistance….
Recommend aggressive traders opt to buy now with a tight stop placed below the recent swing low of $1.76. If the bullish flag pattern is correct, then prices should soon rally to test the flag resistance at S$2.00. A breakout could see prices test $2.20 next based on the height of the flag
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