Rakuten Trade Research Reports

Technical View - Malayan Banking Bhd (MAYBANK, 1155)

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Publish date: Wed, 03 Jul 2019, 11:08 AM
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  • MAYBANK closed 7 sen or 0.79% higher to RM8.98 yesterday.
  • Yesterday’s move also saw the share price closed with a bullish white candle on the back of higher-than-average trading volume, indicating stronger buying interest ahead. Share price has been laggard amongst the recent KLCI linked stocks rebound which saw index close above 1,690 level and Maybank is likely to play catch up and lead the KLCI pass the 1,700 level.
  • From here, resistance levels are expected at RM9.09 (R1) and further to RM9.30 (R2).
  • Conversely, support levels are found at RM8.75 (S1) and RM8.49 (S2).

Source: Rakuten Research - 3 Jul 2019

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