TECHNICAL OUTLOOK

Technical Target: RM5.00 followed by RM5.15

Upward Trend: The overall trend of the stock price seems to be upward, especially in the recent months.

Breaking Resistance: The price has recently broken above a significant resistance level, suggesting a potential bullish breakout.

Positive Indicators: The moving averages (particularly the 50-day and 200-day) are converging, which can be a bullish signal.

Volume: The volume has been increasing during upward movements, indicating growing interest and potential momentum.

Potential Risks: Overbought

Overbought: The stock might be starting to look overbought based on some technical indicators, which could lead to a short-term pullback before continuing the upward trend.

LATEST FUNDAMENTAL NEWS

1. Public Bank Group 1H 2024 pre-tax profit increased 2.5% to RM4.41 billion. Net profit was up 3.1% to RM3.44 billion.

2. According to its filing with Bursa, total loans and deposits recorded annualised growth rates of 6.0% and 5.8% respectively.

3. The company announced a 10 sen dividend (+11% against 9 sen last year).

Details:

​Press Release

​Full Result​