Malayan Banking (Maybank) was testing the RM9.50 mark in its latest session. With a neutral RSI level, a bullish bias may be present above this point with a target price of RM9.88, followed by RM10.25. Meanwhile, it may continue trending sideways if it fails to cross the RM9.50 mark in the near term. In this case, support is anticipated at RM9.10 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM9.50

Target: RM9.88, RM10.25 (time frame: 3-6 weeks)

Exit: RM9.10

Source: AmInvest Research - 2 Jan 2019