CIMB closed with a gap and a huge bearish candle on Friday. The share price of CIMB turned bullish when its 10-day SMA cut above the 40-day SMA near RM3.10 in Mar 2009. Thereafter it has been trading above the supportive UTL. In late Feb 2010, the stock recharged its upward momentum and rebounded from the UTL support near RM6.00, with a powerful rally across the RM6.70 level before reaching an all-time high of RM7.41 in Apr. However, since then momentum deteriorated as it eased lower. On Friday, it plunged with a 7sen gap, and closed at its day low of RM6.86, with a huge bearish candle on the chart.
Mandarin Version - CIMB Group Holdings Berhad : The 10-day SMA Will Cut Below The 40-day SMA Soon…-24/05/2010
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