CIMB testing the support at 7.33

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)

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

Entry Price 7.35
Resistance 7.67
Stop loss at 7.25

 

 

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CIMB have a technical buy if break 6.96

Since Dow Jones is up for consecutive 2 days, we highly believe KLSE will follow the global bull rush together and again CIMB will be always proportional with the KLSE index which most highly to follow the trend.

Observation
1) Trendline - downtrend- (Bearish)
2) Formed lower low  - (Bearish)
3) MACD -Bullish Crossover (Bullish)
4) RSI - Broke above 30% (Bullish) -
5) Sto - Formed Bullish Crossover and broke above 20% (Bullish)
6) ADX - high momentum and Bearish( Bearish)
7) Candle Stick -Hammer with Bullish Engulfing (Bullish) Sweet!!

3Points

      4 Points

Conclusion

Winner BULL

If KLSe goes up and together CIMB break the resistance at 6.94~6.96 it will be a good go for a short punt

Entry Price 6.96
Resistance 7.33 and 7.67
Support at 6.8 

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CIMB - Technical Sell ( 4G1R MACD ) detected

Observation
1) Trendline - downtrend- (Bearish)
2) Formed lower low  - (Bearish)
3) MACD -4G1R(Bearish) and time to RUN!!!
4) RSI - Broke below 30% Bearish) -
5) Sto - Formed Bearish Crossover and broke below 20% (Bearish)
6) ADX - high momentum and Bearish( Bearish)
7) Candle Stick - 3 Strong Black Crow (Bearish)

7Points

      0 Points

 

Conclusion

Winner Bear ( Throw down wrestling style)

KLSE crashing down which normally proportional with CIMB price. The Bad market sentiment is really tearing the fundamental blue chips apart and causing a massive distress to the KLSE index.

Entry Price 7.3

Resistance at 7.63

Support a 6.82 and 6.54

 

 

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CIMB potential Bullish Flag with 5% Gain

Today the chart show that CIMB have a good potential to have Bullish Breakout. Please see the analyze below for further explaination

Observation
1) Trendline - Uptrend Bullish
2) Formed higher high- Bullish
3) MACD - 4G1R ( Bearish)
4) RSI -  Floating above 70% (Undetermined)
5) Sto - Bearish Crossover and waiting to break 80% ( Bearish)
6) ADX - strong momentum and bullish
7) Candle Stick - Star star ( Undetermined)
8) Chart Pattern  = Bullish Flag with volume retracement. This pattern could take several days so just have a watchout on this counter ( Bullish)
8) Volume Distribution - Selling Pressure is high at the last minute ( Bearish)

Conclusion
If on Monday it form a Doji, Bullish Engulfing or Candle, RSI,MACD and STO will provide a positive outlook and high chances to be a higher low

3 Points

       4 Points







Conclusion

Winner BULL

Previous Target ( 23 Jun)

Entry Price 8.68
Take Profit  at 8.79 and 8.96
Support at 8.45


Today new Target ( 1 July)

Entry Price 9.05
                                             Take Profit  at 9.4 and 9.5 ( 5% from Bullish Flag Breakout)
                                             Support at 8.8 ( This support if so happen to breakout but fail on the same 
                                                                        day or the following day)

 

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Will CIMB retrace after merger call off?

Kim Hyun A

CIMB ceases merger talks with RHB Cap. Will this new affects CIMB performance short term? No one is sure what will happen tomorrow but let check out on the technical analysis on this counter.

Observation
1) Trendline - Uptrend( Bullish)
2) Formed higher high - Bullish
3) MACD -Uptrend ( Bullish )
4) RSI - Broke below 70% ( Bearish )
5) Sto - Bearish crossover and below 80% (Bearish )
6) ADX - weak momentum and bullish
7) Candle Stick - Spinning Top ( Undetermined) and Upside Tasuki Gap ( Bullish)
8) News - bad news from The Edge ( Refer to this) (Bearish)
9) Volume Distribution - Buying Pressure is very high  (Bullish)

3 Points

       6 Points







Conclusion

As long CIMB does not break the uptrend line there wont be any unnecessary panic selling and this is back up Bank from Malaysia. Dont worry be happy


Winner BULL



Entry Price 8.68

Take Profit  at 8.79 and 8.96
Support at 8.45

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CIMB formed a super beautiful bullish hammer.. It is hammer time..

      HAMMER TIME -- MC HAMMER.. CIMB HAMMER and Bull Attack haha..

Observation
1) Trend Line - Downtrend ( Bearish)
2) HH- Formed lower low at 8.05 ( Bearish)
3) MACD - Still bearish but the bullish crossover it is getting nearer and awaiting 4R1G. ( Bearish)
4) RSI -  Waiting to rebound at 30%
5) ADX - Weak Momentum and bearish
6) Sto - Awaiting Bullish Crossover

7) Candlestick - Formed Bullish Hammer ( Bullish)
Conclusion
Even though we saw the CIMB rebound but to be on the safe side.. Let observed longer

Entry Price - 8.13 (Risky)
                    8.23 (Safe)
Stop Loss - 8.04
Take Profit - 8.32(R1) and 8.37 (R2) and 8.5 (R3)


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CIMB the top pusher of KLSE and Finance.. Still Laggard

Observation
1) Trend Line - Touching the Downtrend line and by Breaking above the gap down at 8.37 there will be a bullish reversal
2) HH- Formed lower low at 8.05 ( Bearish) but rebound..Waiting to break above 8.46 to have a confirm bullish reversal
3) MACD - Still bearish but the bullish crossover it is getting nearer. ( Bearish)
4) RSI - Broke the 30% on 14 Feb and going up ( Bullish)
5) ADX - Weak Momentum and bearish

Conclusion
Even though we saw the CIMB rebound but to be on the safe side.. Let observed longer

Entry Price - 8.4 (Risky)
                    8.48 (Safe)
Stop Loss - 8.04
Take Profit - 9 (R1) and 9.17 (R2)


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