AMMB Holdings Bhd (AMBANK, 1015)

• Share price closed 2.1% higher at RM3.47 on Thursday.

• AMBANK has been trading on a long-term uptrend since August last year. Its share price is also currently trading above all its key moving averages. Moving averages are also slopping upwards.

• Coupled with uptick in its RSI indicator, we anticipate the share price to move higher.

• Resistance levels are identified at RM3.56 (R1) and RM3.62 (R2).

• On the flipside, support levels are pegged at RM3.45 (S1) and RM3.36 (S2).

Source: Rakuten Research - 4 Mar 2022