Maybank’s rebound since late Sept will likely continue if it closes above the two-month resistance of RM8.80. A purchase can be made if it happens, with a close below the recent low of RM8.65 as a stop-loss. Price targets are 2011’s high of RM9.40 and RM9.60, provided that the psychological RM9.00 is violated. Failure to break above could see the stock trading lower. Supports are expected at RM8.35 and RM8.15.
Source: OSK
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