HK Land: CIMB has Technical Buy Call. Note that price broke out of its triangle pattern recently and think the stock is ripe for a stronger rebound. The next upswing will likely lift prices towards $5.15 and $5.33. The 200-day SMA would also be a magnet for prices.
Technical landscape is improving, suggesting that buying momentum is slowly picking up.
MACD signal line has returned to the black while RSI is above the 50pts mark. Another positive being the candles trading above its 30-day and 50-day SMAs. Traders may start to nibble now but always place a stop at below S$4.75. One can also place their stop at below the $4.55 low depending on risk tolerance.
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