Noble: CIMB Has technical Sell Call. Note that Prices broke below the key double top neckline support at $1.50 late last week, and prices seem to have some difficulty in moving back above this level. This is not a good sign for the bulls.
The MACD continued to expand and moved further into negative territory while its RSI has hooked up but remained in the oversold region. Expect the RSI to remain in the oversold region if the $1.50 level is not taken out soon. Stock is a sell now with a stop placed above $1.60. Expect prices to fall below the recent low of $1.36 and fall towards the support band of $1.03-1.20 in the short term as the downtrend from the Jan high is not over.
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