Sunvic: CIMB has Technical Sell Call on Counter.Note that stock looks stretched to the upside and could be forming a small bearish wedge pattern with the current run testing the wedge resistance trend line.See a slowdown in buying momentum via a potential triple bearish divergence signal and a similar triple bearish divergence signal on its volume as well…
Technically, house note that there is likely little or no upside left from here and recommend traders short now with a stop placed above $0.805. A break below $0.74 would likely increase the odds that the next leg lower is taking place. Anything below $0.725 would likely confirm it. Downside target is seen around theS$0.615 levels, with rising support trend line in the near term.
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