Rakuten Trade Research Reports

Technical View - Malayan Banking Bhd (MAYBANK, 1155)

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Publish date: Fri, 02 Aug 2019, 10:22 AM
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Malayan Banking Bhd (1155)

  • MAYBANK gained 0.46% or 4 sen higher to RM8.69 yesterday.
  • Share price has been testing its support level and finally rebounded with a white candle yesterday signalling a positive emergence of buying interest. Coupled with the upticks on key momentum indicator and decent dividend yield of 6.6%, we believe present level is an attractive entry point.
  • From here, resistance levels are identified at RM8.80 (R1) and to RM9.00 (R2).
  • On the contrary, support levels are expected at RM8.68 (S1) and RM8.50 (S2).

Source: Rakuten Research - 2 Aug 2019

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