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Stock Watch: CIMB (1023), MYEG (0138)




(Disclaimer: This is not a buy or sell call. Stock watch only serves as updates on selected stocks)

  • MYEG
After first coverage, MYEG has succeeded to break up RM2.08 resistance. Based on the chart, MACD just returned to positive region, but RSI has entered overbought region. Readers are advised to monitor MYEG price movement. Potential entry can be found between RM2.02~RM2.08 with immediate support at RM2.02 and resistance at RM2.14.
MYEG2

  • CIMB
CIMB has broken up its 200MA today with higher than averaged volume. This potential reversal will become firmer if 20MA manages to cross 200MA in near term. Based on the chart, both MACD and RSI are trending upwards with plenty of upside potential. Following recent positive news from CIMB Niaga in Indonesia, market sentiment towards CIMB is likely to become more positive. This suggests CIMB upward potential is high and may challenge RM5.00 resistance in coming months. Readers are advised to monitor CIMB price movement these few days. Potential entry can be found between RM4.40~RM4.50. Before continuing its upward movement, CIMB is likely to consolidate around 200MA until its QR is released.
cimb

Stock Watch: CIMB (1023), MYEG (0138)
http://www.investforlife.com.my/stock-watch-cimb-myeg/