Public Bank Bhd (PBBANK, 1295)

• Share price closed 0.9% higher at RM4.44 on Monday.

• PBBANK has been trading on an uptrend mode since 7 Dec 2021 and is trading above all key moving averages now.

• Coupled with uptick in its indicators and uptrend movement, we anticipate the share price to move higher.

• Resistance levels are identified at RM4.52 (R1) and RM4.59 (R2).

• On the flipside, support levels are pegged at RM4.40 (S1) and RM4.28 (S2).

Source: Rakuten Research - 15 Mar 2022