British American Tobacco (Malaysia)

British American Tobacco’s near-term uptrend is considered intact as it still remains above the rising 21-day SMA line. Given that the 21-day SMA line has crossed above the 55-day SMA line recently, this indicates a positive sign. A bullish bias may emerge above the MYR30.72 level, with an exit set below the MYR28.50 threshold. Towards the upside, the immediate resistance is at MYR34.30. This is followed by the MYR40.00 level.

Source: RHB Securities Research - 31 May 2018