Wheelock Properties: CIMB has Technical Buy Call. Note that the stock appears to be consolidating within its large triangle pattern. With prices now sitting just above the triangle support, it is a good level to get long here as the cut loss point is nearby. The technical landscape is neutral, but MACD has signaled a golden crossover but remains below in negative territory while its RSI is still flat. Both could mean that the stock is still in consolidation….
Recommend traders buy now with a stop placed below the recent swing low of $1.82. A breakout above $1.95 would likely see prices rally towards $2.05 and $2.12-2.15 next.
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