Alliance Bank Malaysia is poised to stay on a bullish trajectory after breaking past the resistance level. The counter crossed above the 21-day SMA line and closed above the MYR4.35 resistance level to confirm a bullish setup. After the breakout, the counter should climb towards MYR4.55, followed by MYR4.75. However, a fall below the MYR4.20 support level would negate the bullish setup.
Source: RHB Securities Research - 11 Sept 2024
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Created by rhbinvest | Oct 08, 2024