Alliance Bank Malaysia has been consolidating sideways during the last few sessions, with an immediate resistance level of RM3.82. With an RSI above 50%, it may break the resistance level soon. If this happens, the short-term target prices will be RM3.97 and RM4.08. The downside support level is anticipated at RM3.68, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM3.82

Target: RM3.97, RM4.08 (time frame: 3-6 weeks)

Exit: RM3.68

Source: AmInvest Research - 3 Jul 2019