MAYBANK (1155): Bullish

Pattern: Double Bottom Breakout

Based on MAYBANK's weekly chart above, we notice a double bottom formed in 2 years and last month MAYBANK broke out the neckline with strong volume.

The projected target prices based on the pattern are 9.38, 9.82 and 10.5.

From MAYBANK's daily chart above, after it broke out the neckline, the price has been consolidating in a rectangle and move up nicely. Now, MAYBANK seems to be ripe for picking up the bullish momentum to step into the uncharted territory after 2 weeks of consolidation.

I am bullish on MAYBANK when it stays above 8.50.

Leave me a comment below and let me know what you think. If you have any queries or want to share the next big stock with me, feel free to contact me via my email or FB page below.

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Cheers,

Ming Jong

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