Since my first post on ABMB published on 11 September 2024, ABMB share price has increased by 14% to RM5.02.

What’s the latest technical outlook on ABMB?

https://klse.i3investor.com/web/blog/detail/bestStocks/2024-09-11-story-h468382318-ABMB_Ready_to_Soar_or_Due_for_a_Pullback

Technical Outlook: Very Bullish

The stock is trading above the 20-day, 50-day, and 200-day moving averages, indicating strong upward momentum. The Bollinger Bands are widening, reflecting increased volatility and potential for continued price expansion. RSI at 67 suggests bullish sentiment, but it is approaching overbought territory, requiring caution. MACD shows a bullish crossover above the signal line, confirming upward momentum. Volume trends appear healthy, supporting price action, though spikes in August and December indicate significant institutional interest. The upward-sloping trendline since March demonstrates consistent growth. However, the stock is near resistance at RM5.02, and a clear breakout with sustained volume is necessary to confirm further upside. Overall, the setup is Very Bullish.

Stock background:

Alliance Bank Malaysia Berhad is a full-service commercial bank offering a range of banking and financial services including consumer banking, business banking, Islamic banking, and investment services. It serves individuals, SMEs, and corporations with products like loans, deposits, and wealth management.

More stock ideas?

For more stock ideas and to receive this article directly in your email once published, visit https://kingkkk.substack.com/.

For this post, subscriber received it earlier today.

My portfolio outperformed the FBMKLCI in 2024. I am ranked 17th out of 76 investors on i3, with a 25.4% return (FBMKLCI: 12.9%).