BioSensors: CIMB Has Technical Sell Call. Note that the stock fell below its triangle support in early February and prices fell rapidly to test its 200-day SMA. Prices have since rebounded to retest this breakdown support turned resistance level as well as its resistance trend line from its Nov highs…..
Note that its moving averages could also provide some resistance at current levels. MACD is rising but remains below its zero line while its RSI is below the 60- pts mark. House note that this run from its 200-day SMA is only a rebound. Recommend aggressive traders may opt to sell now with a stop placed above $1.16. Prices could potentially fall back to retest the 200-day SMA at $0.975. Break above $1.16 would mean that a more bullish interpretation is likely and potentially a new 52-wk high.
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