AMMB is undergoing a rebound, after breaking past the immediate resistance to record 1-week high. The stock rebounded from its recent low with a “Hammer” pattern, indicating that a strong upward momentum is in play now. If it stays above the MYR3.90 breakout point, it should climb towards MYR4.05, followed by the MYR4.20 level. On the flip side, falling below the MYR3.75 support would signify the resumption of a correction phase.

Source: RHB Securities Research - 27 Feb 2023