CMA: Tehnical Sell Call by CIMB. Note that the stock has found support near the 30-day SMA in early March and the subsequent rally has taken prices above the February high. However, as prices continue to sport new highs, the indicators show a bearish divergence, signalling a weaker uptrend this time round.
There is still a chance that prices could push towards $1.73-1.75 again but do not think that it would rally too far above the said resistance. Aggressive traders should get in to short on rallies with a stop placed above $1.79. Prices could continue on lower towards $1.455 again, if the $1.61 support gives way.
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