AmInvest Research Reports
Stock on Radar - Alliance Bank Malaysia
AmInvest
Publish date: Fri, 16 Aug 2024, 09:03 AM
AmInvest
0 9,382
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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 for Alliance Bank Malaysia after it surged above the RM4.10 resistance and hit a new multi-year high 2 sessions ago. With 20-day EMA remaining above the 50-day EMA since a bullish crossover in early December 2023, the uptrend may continue in the near term. A bullish bias may emerge above the RM4.10 level with stop-loss set at RM3.85, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM4.50, followed by RM4.70.
Entry : RM4.10–4.16
Target : RM4.50, RM4.70
Exit : RM3.85
Source: AmInvest Research - 16 Aug 2024
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