Midas: CIMB has Technical Buy Call. House note that prices broke out of its medium term downtrend channel yesterday. Prices also pushed above its 50-day SMA along the way. Looking at the chart, it appears that there is a good chance that prices may re-rate towards $0.375 and $0.40. The 200-day SMA at $0.51 is also a magnet for prices.
Bullish divergence on its MACD indicator shows that buying momentum is picking up fast. RSI is also above the 50pts mark. Traders may start to take some position now ahead of the breakout. Only a fall below its recent swing low of $0.335 would cancel out house bullish stance.
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