Malayan Banking consolidated and touched the RM8.19 resistance level. With its sustainable trading volume, there is a good chance that it would experience a technical rebound and head towards the short-term target price of RM8.45, followed by RM8.60. The downside support is marked at RM7.89. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM8.19

Target: RM8.45, RM8.60 (time frame: 2-4 weeks)

Exit: RM7.89
 

Source: AmInvest Research - 22 Jun 2021