Alliance Bank Malaysia Bhd

• Share price closed 1.16% higher at RM3.48 on Tuesday.

• ABMB rebounded mildly after it touched its support level at RM3.41. High buying interest was seen yesterday as share price climbed above its MA 20 line. Coupled with bullish MACD cross-over, share price is expected to move higher.

• Resistance levels are identified at RM3.48 (R1) and RM3.55 (R2).

• On the flipside, support levels are pegged at RM3.41 (S1) and RM3.34 (S2).

Source: Rakuten Research - 1 Mar 2023

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