RHB Bank Berhad (RHBBANK, 1066)

• RHBBANK achieved two consecutive breakouts, first surpassing its rectangle pattern resistanceand then hitting a new record high of RM6.67. This strong upward momentum and share price trending above both EMAs with a high RSI, further suggests sustained buying interest and upside potential.

• We anticipate the stock to test the initial resistance at RM7.00 (R1), with RM7.10 (R2) as the nextpotential target, supported by continuing positive trajectory.

• On the downside, stop-loss is set at RM6.35.

Source: Rakuten Research - 27 Nov 2024

To sign up for an account: http://bit.ly/40BNqKI

[Youtube Tutorial] Account Opening & Enable Foreign Equity: http://bit.ly/3I5Jzxo