Super Grp: CIMB has Technical Sell Call. Cite that stock is still holding within its bearish wedge pattern but ee signs that a top is likely in the near term. Supported by bearish divergences on both its MACD and RSI, think that sellers are ready to take centre stage. A break below $1.46 would likely induce further selling on the stock while closing below $1.41, which is also its 50-day SMA would confirm that a top is in place….
Recommend traders to sell on strength with a stop placed above $1.57 or wait for a break below $1.41 before jumping in to short. Prices are likely to fall to test $1.16 and $1.10 next, where the latter is its 200-day SMA.
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