Bumiputra-Commerce Holdings (BCHB), holding company of CIMB group being a key component stock in the benchmark FBM KLCI had staged an impressive rally since March 2009. However recent price actions suggest that the current uptrend from its March 2009 is showing signs of exhaustion. Since hitting its high of RM11.00 in Aug 2009, BCHN had tumbled close to 10% to its recent August 2009 low. The MACD trend indicator remains weak below its signal line, trending down and it is hovering near the centerline (a move below zero - a bearish centerline crossover implies that momentum has changed from positive to negative). Bearish signal is also seen in the MFI oscillator as it breaks below its horizontal support and is trending down towards the 20% oversold level. Interestingly, volume spiked above its 50-day average during the sell-down (bearish candle) seen on 28 Aug 2009. Given such bearish technical readings, further downside cannot be ruled out. Defense for BCHB now lies at its immediate support zone of RM9.90-RM9.60 which also coincides with its 50-day moving average. A violation below it shall see a correction towards the next stronger support zone at RM8.55-RM8.20. However a quick recovery above its immediate classical resistance at RM10.60 shall see BCHB resuming its uptrend to set sight on its next target at RM11.45 follow by a stronger classical resistance at RM12.05.