OCBC: CIMB Has technical Sell Call on counter. Note that Prices are now sitting just above its long term support trend line at $9.71, which has held up prices since the Mar09 lows abd are are also trading below its moving averages, which is negative….
Both its MACD and RSI both sport bearish divergences. MACD is now below the zero levels while RSI is marginally below the 40-pts mark. Believe that it would be wise to lock in profits should this support trend line at $9.71 is breached in the days to come. A breakdown would likely send prices reeling towards its 200-day SMA at $9.15 next. Closing above $10.12
would increase the odds for a more bullish case, potentially seeing prices attaining new highs.
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