Ramba Energy: CIMB has Technical Sell Call. Note that the stock has rebounded to its 61.8%FR levels and a possible turn could take place here. It could also push on a tad more to fill up the $0.58-0.625 gap before turning down. House is on a lookout for a reversal in this stock. Its MACD and RSI show a potential bearish divergence signal, calling for bulls to be cautious…..
Recommend traders should only go short if prices fall below $0.495. Aggressive traders may choose to short on strength, preferably near the $0.60-0.625 levels. Once you are in the market, keep a stop above $0.64. A break below $0.495 would mean that prices could be heading towards $0.45 as well as retest its 200-day SMA at $0.40.
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