CIMB may well rebound after holding above RM7.50 for the past two days. A purchase can be made on a close above last Friday’s high of RM7.60, with a close below last Friday’s low of RM7.40 as a stop-loss. The price target is RM8.50, provided that the recent high of RM8.00 is violated. Failure to stay above RM7.50 will likely see the stock lower. Support is seen at RM7.15.
Source: OSK
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