CSE Global: CIMB has Technical Buy Call. Note that stock has completed its consolidation triangle pattern last wk and prices broke out of its triangle yesterday on rising vol. Expect this breakout run to continue in the short to medium term…..
With its MACD reconfirming its golden cross and moving back into positive territory, the odds continue to favour the bulls. Recommend aggressive traders may go long here with a stop placed below the triangle low of $1.17. The 200-day SMA atS$1.18 is also likely to provide support for the bulls. This breakout would likely send prices higher towards $1.39-1.43 next with a minor resistance at $1.30.
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