Rakuten Trade Research Reports

Technical View - Malayan Banking Bhd (MAYBANK, 1155)

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Publish date: Fri, 10 May 2019, 03:01 PM
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Malayan Banking Bhd (1155)

  • MAYBANK closed unchanged at RM8.97 yesterday.
  • KLCI Index closed at the lowest since Dec 2016 yesterday and Maybank being one of the index heavyweights, saw its price remained well supported. Should KLCI rebound today, Maybank is likely to break out of its consolidation phase as the current level remains oversold.
  • Hence, current price level offers a good entry point to accumulate the stock. • As such, resistance levels are identified at RM9.30 (R1) and further to RM9.44 (R2).
  • Conversely, support levels are expected at RM8.75 (S1) and RM8.49 (S2).

Source: Rakuten Research - 10 May 2019

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