Technical Outlook: Very Bullish

This chart setup demonstrates a strong uptrend with higher highs and higher lows, supported by key technical indicators. The stock price is trading above the 20-day, 40-day, and 50-day moving averages, indicating bullish momentum, while the 150-day moving average is significantly lower, reinforcing the long-term trend. Periods of rising volume during upswings signal healthy buying interest. The stock has been hugging the upper Bollinger Band, reflecting strong momentum, though some consolidation is evident. The MACD is near neutral, suggesting recent bullish momentum is stabilizing, while the RSI appears below overbought levels, supporting further upside potential. Overall, this setup is favorable for bullish continuation, with minor consolidation.

Company Background

AMMB Holdings Berhad, also known as AmBank Group, is one of Malaysia's leading financial services groups. It offers a wide range of banking and financial products, including retail and wholesale banking, Islamic banking, investment banking, insurance, and asset management, serving both individuals and businesses.

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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%).

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