China MinZhong: CIMB has Technical Buy Call. House see a lot of positive at current levels. Prices appear to have completed a 5-wave move down from the high of $1.90 and the rebound from the $0.665 low has taken prices above its moving averages.
The technical landscape also looks fairly positive with both its MACD and RSI moving above their respective resistances. Buyers should wait for a pullback towards its moving averages before jumping in long. Stop losee at recent low $0.815. Longer term, expect prices to continue on higher to $1.10-1.14, where the latter is the 38% Fibonacci Retracement level.
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