Midas: CIMB has technical Buy Call. Note that grp has fallen from the $0.835 high and appears to be losing steam after prices rebounded off the lower end of its long term downtrend channel. Prices broke out of its bullish wedge pattern and are now sitting just above the wedge resistance turned support levels…
MACD has reconfirmed its golden crossover and both its MACD and RSI are showing bullish divergence signals on both the daily and intra-day charts. House think that this is a good level to get in long for a short term trade. Place a stop below $0.60, the recent low. Look for a rebound towards $0.695, its 200-day SMA and possibly even retest the $0.735 levels again.
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