CIMB probably start trending down completing wave E ( Red Circled ) of triangle...where it will probably completing its long term "base/foundation" for next level of CIMB's "High-rise Building"..
Technical Reason: downtrend structure bearish divergence stochastic Fundamental Reason: potential domino effect towards the global financial bank crisis invalidation level: closing above 6.10 journaling and crafting my long term direction analysis *Strictly not financial advice. education purpose only
CIMB came closed to its all time high price @ 6.180....Rate hiking “temporarily” halted?..Or?...
After yesterday price & volume shows sign of rebound, today price traded higher allows some intraday profit. However, the price up might resisting with low intention to markup further. This is because the price & volume intraday shows price is not moving higher despite high volume in. This might be the action to attract buyers with fear or missing out.
After a huge fall from last week, CIMB is showing sign of price bottom & price up with volume yesterday. Although high volume in daily chart might scared some investors away. But the major volume created yesterday was done at the price bottom & maintaining the price at higher level.
Previously i shared CIMB VCP setup on Aug (link below). After the breakout at Aug, price rally up to 18% till 20 Oct. Then the price went for natural reaction with below contraction: C1: -8% C2: -4% C3: -3% This region is tight and consider a low risk entry zone with overall risk around 6%. Let's see if huge demand will come in and breakout strong or not....
Sign of Strength in the chart: 1. Green Pentagon in Daily & Weekly Chart 2. Pullback setup 3. Upbars high volume Disclaimer This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
By Breaking 4.880 CIMB price most likely have completed its bullish triangle pattern. And on its way trending up above Rm6.00
Back in early June, i have shared CIMB VCP Setup, i believe the further contraction till now were due to market sentiment in finance sector still not recover. Keep in watchlist with below contraction: C1: -18% C2: -13% C3: -6% Still yet to have any buy signal, just chart pattern sharing. Disclaimer: Trade at your own risk, not a buy call recommendation.
CIMB Bank Medium Term Outlook, We are possible in wave D (Yellow) of a triangle
CIMB Bank now possible in wave D (Red Circled) of a triangle..
DISCLAIMER THIS IS NOT AN INVESTMENT ADVICE, TRADE AT YOUR OWN RISK & OPPORTUNITY !!! It tried to breakout from its 52week high of 4.75 today but retraced back to 4.69, forming a doji. Currently it is in a nice and good uptrend with the MA20 acting as a trendline. However take note the RSI nearing overbought zone soon and it formed a doji today. There could be a...
Trend shown based on purple box will achieve 4.88 myr... hope for good news soon.
CIMB, monitor for VCP formation. Wait for next squueze and breakout only enter. MYX:CIMB
CIMB looks like forming a cup with handle formation at first, but the handle is now way too long and it is almost like a double bottom now. Let's see if it can break the resistance of RM4.67. Noticed there have been multiple attempts to break this resistance but has been unsuccessful so far. Trend looks good for now. Let's see if it breaks out. Dislaimer : This...