Z-Obee: CIMB has Technical Buy Call. Note that Z-Obee may have found a short term bottom at $0.17. Yesterday long white candle on strong vol suggests that there is still room on the upside for the stock, at least in the short term. Note that prices also closed above its 50-day MA yesterday, which is a positive for the bulls. MACD and RSI are rising sharply although its MACD is still below the zero line. The strong vol helps support the positive call….
Recommend aggressive traders may opt to buy now with a stop place below yesterday’s low of $0.20. Other investors should wait for a pullback before getting in. A breakout above the downtrend resistance at $0.26 could send prices shooting towards $0.31-0.325 next. The 200-day SMA at $0.345 may also attract prices in the days ahead.
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