GMG: CIMB has Technical Buy Call. House note that prices still trapped in a downtrend channel but think a short term bottom may have formed. The recent sideways consolidation suggests that a base is formed near the $0.11 low.
As long as prices stay above the $0.11 level, advocate traders to accumulate on weakness. The next upswing is likely to push prices towards $0.135 and $0.15. The 200- day SMA is also a magnet for prices. Be quick to cut loss if prices fall below $0.11. MACD signal line is rising towards the zero level while RSI has also hooked upward.
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