RHB Retail Research
Trading Stocks - Malayan Banking
Malayan Banking’s buying momentum may have returned after it rose above the 21-day SMA line. This upward momentum is likely to continue, given that it has posted a third consecutive white candle. A positive bias may emerge above the MYR8.44 level, with an exit set below the MYR8.30 threshold. Towards the upside, the immediate resistance is at the MYR8.65 mark. This is followed by the MYR8.80 level.
Source: RHB Securities Research - 28 Feb 2020
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