RHB Investment Research Reports

Trading Stocks - Alliance Bank Malaysia

rhbinvest
Publish date: Tue, 12 Nov 2024, 10:17 AM
rhbinvest
0 4,539
An official blog in I3investor to publish research reports provided by RHB Research team.

All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com

RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia

Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216

Alliance Bank Malaysia is looking to extend its bullish trajectory after breaking past the resistance level with strong volume. Yesterday, the stock closed above the MYR4.75 resistance level with a long white candlestick, showing that strong bullish momentum is in play. Premised on the momentum, we expect follow-through price action to test MYR5.10, followed by the MYR5.35 level. On the downside, a fall below the MYR4.55 support level would negate the bullish setup.

Source: RHB Securities Research - 12 Nov 2024

Related Stocks
Market Buzz
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment