Tiger: CIMB has Technical Buy Call. House note that prices continue to work its way to a new low of $0.60 in late Dec but believe that there is a good chance that a significant low has formed. The gap after the low could potentially be a breakaway gap.
Both its MACD and RSI have turned up again, which in turn has confirmed its quadruple bullish divergence. Believe that the selling momentum is weak and a reversal may have taken place. A breakout above $0.68 on strong vol would suggest that the strong rebound rally is underway. Stop loss placed below the $0.60 low. Expect prices to take out the $0.79 in the near term but it is more likely to continue on towards the $0.83-0.89 resistance levels.
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