AmInvest Research Reports
Stocks on Radar - RHB Bank (1066)
AmInvest
Publish date: Mon, 30 Dec 2019, 09:32 AM
AmInvest
0 9,057
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
RHB Bank shot up and formed a long white candle in its lastest session. With an RSI level above 60%, it may continue to climb above the resistance price of RM5.84. If this happens, its shortterm target price will be RM6.04 followed by RM6.18. If it fails to close above RM5.84, expect a sideway movement. Support price is anticipated at RM5.70, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM5.84
Target: RM6.04, RM6.18 (time frame: 3-6 weeks)
Exit: RM5.70
Source: AmInvest Research - 30 Dec 2019
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