Kreuz: CIMB has Technical Buy Call. Note that prices broke out of its flag resistance yesterday on rising vol. There is a good chance that prices may swing back to test its previous high of $0.44 again. If this level is taken out, the following resistances are $0.475 and $0.495. Add that technical indicators are showing signs of improvement, with MACD poised for a positive crossover while RSI too has hooked upward…..
Recommend aggressive traders may start to nibble now to ride this breakout run. However, always place a stop at below $0.39, its previous swing low. A fall below its 50-day SMA would indicate that the rebound from its March low is exhausted.
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