Midas: CIMB has technical Buy call. Note that Prices are now sitting just above its downtrend channel support and with rising volume; prices have yet to break below this support. Believe that there is a strong hand accumulating this stock.
The MACD is about to reconfirm its golden crossover for the third time and when it does, it could also confirm a triple bullish divergence on both the MACD and RSI. On its intra-day charts, see a completed 5-wave down, supported by bullish divergence signals. Yesterday’s bullish harami cross pattern could also be a reversal that house is looking for. Think that this is a good level to get in long NOW. Place a low risk stop below $0.59, the channel support and see rebound towards $0.815, its 200-day SMA for the medium term. A break above $0.64 would likely see prices kick upwards towards $0.695 in the short term.
No comments:
Post a Comment