AMMB Holdings Bhd (AMBANK, 1015)

• Share price closed 2.05% higher at RM3.99 on Monday.

• AMBANK continued to rebound after it touched near its support at RM3.82 and broke out from its resistance level at RM4.00 yesterday. Coupled with indicators showing uptick momentum, share price is expected to move higher.

• Resistance levels are identified at RM4.00 (R1) and RM4.04 (R2).

• On the flipside, support levels are pegged at RM3.82 (S1) and RM3.76 (S2).

Source: Rakuten Research - 28 Feb 2023