RHB Retail Research
Technical Analysis - Malayan Banking
Malayan Banking
Malayan Banking’s buying momentum may have returned after it rose above the 21-day SMA line. This can be viewed as a continuation of the bulls extending the rebound from 28 Jun’s “Bullish Harami” pattern. A bullish bias may emerge above the MYR9.25 level, with an exit set below the MYR8.68 level. Towards the upside, the immediate resistance is at MYR9.90. This is followed by the MYR10.30 level.
Source: RHB Securities Research - 13 Jul 2018
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