Memtech: CIMB has Technical Sell Call. House note that prices have fallen below its uptrend channel support back in July and prices have stayed below it since then.
The weekly MACD and RSI are now in a neutral to mildly positive mode, which could prompt further upside from here. However, do not expect prices to retake the $0.12, $0.135 and $0.16 resistance levels. Recommend traders to continue to sell into strength. Long term, prices could fall back towards the $0.045-0.06 levels.
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