GMG Global: CIMB has Technical Buy Call. Note that stock has been trading within its downtrend channel since hitting a high of $0.345 in Nov last yr. MACD is now sporting a bullish divergence while so is its RSI and would not be surprised if prices rebounded from here……
Nevertheless, the odds favour a tad more downside from here, probably towards the S$0.235-0.25 levels. Add that as long as prices remain above the downtrend channel support at $0.23, believe that prices have the potential to breakout of this downtrend. If prices pushed past $0.29, the resistance trend line, the bulls could send prices soaring towards $0.33 and $0.345 next.
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