Bank Islam Malaysia Berhad (BIMB, 5258)

• Share price closed 1.50% higher at RM2.70 on Friday.

• BIMB share price has been on a downward trend since April but seems there is a slight rebound recently from its 52 week of low RM2.61 due to some buying interest. Coupled with bullish MACD crossover and uptick in its indicators, share price is expected to move higher.

• Resistance levels are identified at RM2.74 (R1) and RM2.82 (R2).

• On the flipside, support levels are pegged at RM2.62 (S1) and RM2.59 (S2).

Source: Rakuten Research - 12 Jul 2022