Ezion: CIMG has Technical Sell Call. Note that the stock has broken below its bearish flag pattern three weeks back. It then rebounded to test the channel resistance again but failed to break upwards. This failure is bearish for the stock in the near and medium term….
The technical landscape remains negative for the stock with its MACD still in negative territory while its RSI is still in a downtrend. Recommend aggressive traders could short now with a stop placed above $0.70, the flag support turned resistance….
Tip that Prices are likely to fall to test $0.62 and $0.55 next. For the longer term, as long as the downtrend channel resistance at $0.725 is not breached, the trend remains down.
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