AMMB Holdings is set to resume its uptrend as it jumped to close above the MYR3.87 consolidation level on stronger trading volume during the latest session – firming up the positive momentum above the 21-day average line. The bulls are expected to propel the stock towards the next resistance at the MYR4.00 threshold, before heading towards the MYR4.20 strong resistance level, or the high of 3 Jul 2019. If it falls below the support level of MYR3.81, the stock may trend downwards, below the average line.

Source: RHB Securities Research - 25 Jul 2022