RHB Bank surged to a new 52-week high with a long white candle yesterday, which likely indicates the return of buying momentum. The stock’s move above the RM6.10 resistance (March’s high) also coincides with its rising EMAs, indicating that a bullish outlook can be anticipated here. A bullish bias may emerge above the RM6.10 level, with a stop-loss set at RM5.86, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM6.40, followed by RM6.60.

Entry : RM6.10–6.19

Target : RM6.40, RM6.60

Exit : RM5.86

Source: AmInvest Research - 29 Apr 2022