AmInvest Research Reports
Stocks on Radar - Alliance Bank Malaysia
AmInvest
Publish date: Tue, 26 Jul 2022, 09:26 AM
AmInvest
0 9,047
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
We expect further upside in Alliance Bank Malaysia given that it took out the 3-month downtrend line with a white candle yesterday. The stock also broke out of the rectangle pattern with the upward momentum appears to be picking up. A bullish bias may emerge above the RM3.34 level, with a stop-loss set at RM3.09, below 15 July’s low. Towards the upside, the near-term resistance level is seen at RM3.60, followed by RM3.80.
Entry : RM3.34–3.42
Target : RM3.60, RM3.80
Exit : RM3.09
Source: AmInvest Research - 26 Jul 2022
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