Alliance Bank Malaysia inched above the RM4.04 resistance level in its latest session. With a neutral RSI level, it may trend higher above this point with a target price of RM4.32, followed by RM4.44. Meanwhile, it may continue trending sideways if it fails to cross the RM4.04 mark in the near term. In this case, support is anticipated at RM3.92, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on trend continuation above RM4.04

Target: RM4.32, RM4.44 (time frame: 3-6 weeks)

Exit: RM3.92

Source: AmInvest Research - 2 May 2019