OSIM: CIMB Has technical Sell Call. House note that after share price violated its long term support trend line back in Aug, prices fell sharply to a low of $1.035 before the current rebound took place. It formed a minor triangle for the past couple of wks before Monday’s breakdown.
The MACD has just confirmed its dead crossover while its RSI has also trailed below the 50- pts mark. House expect lower prices ahead, where a break below $1.035 Aug low is likely. House add that prices could potentially fall towards $0.90-0.925 next. Aggressive traders should take a short positive now with a stop placed above $1.17.