Daily Trading Stocks : Malayan Banking Bhd

Maybank may finally rally after closing above the four-month resistance of RM8.80. A trader may initiate a position above the level with a close below  the  recent low of RM8.70 as  a stop-loss. The price target is  at  2011’s high of RM9.40, provided that  the psychological RM9.00 is violated. Failure to hold above RM8.80 could see it lower and supports are at RM8.50 and RM8.35.

Source: OSK