Alliance Bank Malaysia may trend higher after it cracked the key RM3.50 resistance yesterday. The stock also posted three white candles in a row and hit a new 52-week high, likely suggesting that its bullish momentum is picking up further. An upbeat bias may emerge above the RM3.50 level, with a stop-loss set at RM3.35, below the 20-day EMA. On the upside, the near-term resistance level is seen at RM3.80, followed by RM4.00.

Entry: RM3.50–3.60

Target: RM3.80, 4.00

Exit: RM3.35

Source: AmInvest Research - 2 Mar 2022