TECHNICAL OUTLOOK
Technical Target: RM5.00 followed by RM5.15
Upward Trend: The overall trend of the stock price seems to be upward, especially in the recent months.
Breaking Resistance: The price has recently broken above a significant resistance level, suggesting a potential bullish breakout.
Positive Indicators: The moving averages (particularly the 50-day and 200-day) are converging, which can be a bullish signal.
Volume: The volume has been increasing during upward movements, indicating growing interest and potential momentum.
Potential Risks: Overbought
Overbought: The stock might be starting to look overbought based on some technical indicators, which could lead to a short-term pullback before continuing the upward trend.
LATEST FUNDAMENTAL NEWS
1. Public Bank Group 1H 2024 pre-tax profit increased 2.5% to RM4.41 billion. Net profit was up 3.1% to RM3.44 billion.
2. According to its filing with Bursa, total loans and deposits recorded annualised growth rates of 6.0% and 5.8% respectively.
3. The company announced a 10 sen dividend (+11% against 9 sen last year).
Details:
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PBBANKCreated by KingKKK | Sep 02, 2024