SC Global: CIMB Has Technical Sell Call. Note that stock hit a new 52-wk low on Fri, with prices remaining below its key moving averages, and the stock is firmly in a downtrend, with no signs of a reversal. MACD has just confirmed its dead cross while RSI has also hooked lower. Since the RSI is still not oversold, there is still room on the downside…
Note that as long as prices remain below $1.59 and its moving averages, currently
around the $1.60-1.61 levels, stock could head lower towards $1.36 next with an eye on the gap at $1.09-1.14 in the medium term.
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