AMMB is poised to extend the positive price action after staging a bullish breakout during Friday’s session. The stock has crossed above the MYR4.05 resistance with a “higher high” bullish candlestick. The latest breakout suggests the momentum is picking up pace and may propel the stock towards the next resistance at MYR4.20, followed by MYR4.40. On the other hand, falling below the MYR3.90 support will negate the bullish setup.

Source: RHB Securities Research - 4 Dec 2023