To those who have bought CIMB on Sept 29 which was posted on 28 Sept.. Congratulations.. (Refer to the link http://edwinextremebullrun.blogspot.com/2011/09/cimb-have-technical-buy-if-break-696.html)
Let check on the current situation on CIMB
Observation
1) Trendline - Uptrend- (Bullish)
2) Formed higher high - (Bullish)
3) MACD -4G1R (Bearish)
4) RSI -Retrace towards 70% and if break below 70% it will be bearish (Undetermined) -
5) Sto - Formed Bearish Crossover and retrace towards 80% (Bearish)
6) ADX - high momentum and Bearish( Bearish)
7) Candle Stick -Black Candle after shooting (Bearish)
8) Volume Distribution - High Buying Pressure ( Bullish)
3 Points
Conclusion
Entry Price 7.35
Resistance 7.67
Stop loss at 7.25
Observation
1) Trendline - Uptrend- (Bullish)
2) Formed higher high - (Bullish)
3) MACD -4G1R (Bearish)
4) RSI -Retrace towards 70% and if break below 70% it will be bearish (Undetermined) -
5) Sto - Formed Bearish Crossover and retrace towards 80% (Bearish)
6) ADX - high momentum and Bearish( Bearish)
7) Candle Stick -Black Candle after shooting (Bearish)
8) Volume Distribution - High Buying Pressure ( Bullish)
4Points
3 Points
Conclusion
Winner Bear ( Throw down wrestling style)
With KLSE index retracing from the higher high resistance at 1422, there might be a potential than CIMB will retrace and test the next support at 7.33. Let wait for the Monday movement to see whether there is a technical rebound due to good Global Factor on last friday
With KLSE index retracing from the higher high resistance at 1422, there might be a potential than CIMB will retrace and test the next support at 7.33. Let wait for the Monday movement to see whether there is a technical rebound due to good Global Factor on last friday
Entry Price 7.35
Resistance 7.67
Stop loss at 7.25
Daily Buy Call in Forum.. (Do not forget to view here for daily Stock Picks)
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