Friday, 22 July 2011. CIMB – Stock Pick--Technical rebound

CIMB ( 1023 : 8.53 ) : Technical rebound
Description
Resistance : 8.78
Support : 8.38 8.42
RSI of 40
RSI is oversold
STOCHASTIC
It is oversold
TREND INDICATOR.
Down
Comment
It may have bottomed at the 50% retracement of 8.42. A technical rebound is likely to test the overhead
trendline of 8.78
Trading Strategy
Buy. Stop loss is at 8.38