Beyond the big block changing hand, we can see that CIMB has now broken below its 9-month old uptrend line at RM6.70 (see Chart 1). Recently, CIMB tested its 7-year old downtrend line at RM7.00-7.10 (see Chart 2). Both developments tang the bell for a period of price consolidation for CIMB. I think the stock is likely to trade sideways between RM6.00 and RM6.50 for the next few weeks until the next price direction has been determined by the market. I rate CIMB as a HOLD unless you can sell it above RM6.50 and switch to a cheaper banking stock.
Chart 1: CIMB weekly chart as at Sep 20, 2017_10.00 (Source: Malaysiastock.biz)
Chart 2: CIMB monthly chart as at Sep 20, 2017_10.00 (Source: Shareinvestor.com)