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