Technical Outlook:

RHB Bank Berhad (1066.KL) is in a neutral setup. The price is trading at MYR 6.32, near support levels around MYR 6.12 and the 200-day moving average, suggesting limited downside risk. Momentum indicators, such as MACD and RSI (40.85), show weakening bearish pressure, with the RSI nearing oversold territory. The price is also near the lower Bollinger Band, indicating a potential rebound zone. However, declining volume during the recent pullback reflects a lack of strong selling conviction. While the short-term trend is bearish due to the recent downtrend from MYR 6.50, oversold signals and holding support levels suggest a possible recovery. Traders may view this as a favorable risk-reward setup, but confirmation of bullish momentum (e.g., MACD crossover or increased volume) is needed for a stronger bullish case.

Company background:

RHB Bank Berhad is one of Malaysia's leading financial institutions, providing a wide range of banking and financial services. Its operations include retail and corporate banking, investment banking, asset management, wealth management, and Islamic banking. The group primarily serves Malaysia, ASEAN markets, and other strategic regions.