Public Bank is looking to propel towards its historical high as it inched higher towards the MYR4.69 immediate resistance yesterday following the recent pullback. If it manages to break above that level, the bulls are expected to propel the stock towards the historical high marked at MYR4.79 – 4 Apr’s high – before printing a new high at MYR5. If it falls below the MYR4.59 support, the recent uptrend movement may reverse, as it forms a “lower low” bearish pattern.
Source: RHB Securities Research - 3 Aug 2022
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