Public Bank has been consolidating sideways during the last few sessions, with an immediate resistance price of RM19.50. With a rising RSI, it may break the resistance level and move towards RM20.10, followed by RM20.52. Meanwhile, it may lose its bullish momentum if it fails to break the resistance in the near future. The downside support is anticipated at RM19.00, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM19.50
Target: RM20.10, RM20.52 (time frame: 3-6 weeks)
Exit: RM19.00

Source: AmInvest Research - 18 Oct 2019