AMMB Holdings Bhd (AMBANK, 1015)

• We believe AMMB is positioning for an upward trend after breaking out from its 1-week bullish flag pattern with two consecutive white candlesticks to close above the 20-day EMA. In view of the rising RSI coupled with the widening gap between both the 20-day and 50-day EMAs, this further reinforces the near-term bullish momentum.

• We anticipate the upward trajectory to steer the stock higher and test the next resistance at RM5.32 (R1) followed by RM5.45 (R2) in the near term.

• On the downside, stop-loss is set at RM4.93.

Source: Rakuten Research - 6 Nov 2024

To sign up for an account : http://bit.ly/40BNqKI

[Youtube Tutorial] Account Opening & Enable Foreign Equity:http://bit.ly/3I5Jzxo