RHB Bank rose and tested the RM5.65 resistance level. With its 21-day moving average in an uptrend, coupled with a sustainable trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM5.89, followed by RM5.97. The downside support is marked at RM5.41. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM5.65

Target: RM5.89, RM5.97 (time frame: 2-4 weeks)

Exit: RM5.41
 

Source: AmInvest Research - 10 Feb 2022