Public Bank is firming up its uptrend movement, as it broke past the consolidation phase of MYR4.69 last Friday on high volume – printing a “White Marubozu” candlestick as it draws a “higher high” bullish pattern. If it manages to stay above this point, bullish momentum may propel the stock towards the MYR5.00 threshold, before heading for the all-time high of MYR5.23. Conversely, a fall below the MYR4.58 support level would trigger selling pressure as it forms a “lower low” bearish pattern.

Source: RHB Securities Research - 4 Apr 2022