AMMB Holdings is firming up its recent uptrend reversal as it bounced off its immediate support (recent breakout level) on strong trading volume. If it remains above the immediate support level of MYR2.99, the bullish momentum will boost the stock towards the next resistance of MYR3.19 before reaching the higher hurdle of MYR3.44. However, falling below the MYR2.94 support and forming a “lower low” pattern may see it fall to lower levels.

Source: RHB Securities Research - 30 Aug 2021