Overall:

While the stock shows a strong uptrend, the indicators suggest that the upward movement might continue but with caution, especially if it nears overbought levels.

What is the theme on this stock?

• Strong Malaysia GDP

• Ringgit appreciation which bode well for banking sector

• Growth from Indonesia to support earnings

Stock background:

CIMB Group Holdings Berhad is a leading ASEAN universal bank headquartered in Kuala Lumpur, Malaysia. Established in 1974, it offers a wide range of financial products and services, including retail and corporate banking, investment banking, and asset management across ASEAN and beyond.

Dividend update:

The ex-date for the 27 sen dividend is 13-Sep-2024. So today is the last day to be entitled for the dividend. I believe the stock will resume uptrend after the ex-date.

Bollinger Bands: The stock price is near the upper Bollinger Band, indicating it might be slightly overbought in the short term, but it's still within the bands, suggesting there might be some room for further upside.

Moving Averages: The price is above all key moving averages (20-day, 50-day, 150-day, 200-day), indicating a strong bullish trend.

Volume: The volume seems to be stable, though not significantly increasing, which might suggest a lack of strong buying momentum, but the trend isn't reversing either.

RSI (Relative Strength Index): The RSI is at 67, which is approaching overbought territory (typically over 70), so while there's some strength left, a pullback might occur if it crosses into overbought levels.

MACD (Moving Average Convergence Divergence):

The MACD line is above the signal line, but the gap is small, suggesting that the upward momentum might be losing strength.

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