RHB Bank may soon retrace its path to test the RM4.50 level. If this happens, the RSI indicator may drop below 30%. This indicates that there is a possibility it will experience a technical rebound towards the short-term target prices of RM4.85 and RM5.00. The downside support is anticipated at RM4.20, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on pullback RM4.50

Target: RM4.85, RM5.00 (time frame: 3-6 weeks)

Exit: RM4.20

Source: AmInvest Research - 8 Apr 2020