OCBC: CIMB Has Technical Buy Call. Note that stock seems to be building a base above the $9.00 mark. House think consolidation is bullish for longer term, in line with outlook for the other two banks above. The negative looking indicators would suggest that the stock is still in consolidation. However, if prices continue to hold above its 30-day and 50-day SMA, there is good chance that it could be ready to test the triangle resistance at S$9.62 again.
Believe that stock is still a buy as long as prices stay above the key support at $9.00.
The immediate support is at $9.20. A breakout above the $9.62 levels would see prices
push higher to $9.90 and $10.36 once again.
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