Rakuten Trade Research Reports
Technical View - Alliance Bank Malaysia Bhd (ABMB, 2488)
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Publish date: Tue, 12 Nov 2019, 09:28 AM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
Alliance Bank Malaysia Bhd (2488)
• ABMB closed 2.2% or 6 sen higher to RM2.84 yesterday.
• Share price seems to have found its bottom at RM2.57 followed with a rebound in mid-October on the back of improving trading volume. As such, we believe the share price recovery is likely to continue and current level offers accumulation opportunity.
• From here, resistance levels are expected at RM2.94 (R1) and further to RM3.12 (R2).
• On the contrary, support levels can be seen at RM2.68 (S1) and RM2.57 (S2).
Source: Rakuten Research - 12 Nov 2019
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