Rakuten Trade Research Reports

Technical View - Malayan Banking Bhd (MAYBANK, 1155)

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Publish date: Fri, 19 Apr 2019, 10:57 AM
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Malayan Banking Bhd (1155)

  • MAYBANK closed unchanged at RM9.00 yesterday. \
  • MAYBANK has been falling for the past 4 trading days to its intra-day low of RM8.75 (nearing its 52-week low RM8.68) before recovering to close at RM9.00. We believe the heavy sell down since Monday is overdone and a technical rebound is imminent, hence the current price weakness offers a compelling buying opportunity.
  • From here, resistance levels at identified at RM9.31 (R1) and further to RM9.44 (R2).
  • On the flipside, support levels are expected at RM8.68 (S1) and RM8.49 (S2).

Source: Rakuten Research - 19 Apr 2019

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