MAYBANK (RM5.95) MAYBANK is currently bullish as it is trading above its short term, mid term and long term MAV lines. Its volume is also increasing at an encouraging pace.If it can break above its recent high and resistance of 6.15, it will draw in much more buyers which will carry it towards the 7.00 region. No problems expected for MAYBANK in breaking its recent high.
It has been positive of the FBM-KLCI for the last few weeks and expect it to be bullish in the weeks ahead which might carry it towards the 1,165 level in 3-4 months. Fueling the KLCI’s rally will be blue chip stocks like MAYBANK and TENAGA which are currently challenging their recent highs. A break above their highs will attract considerably more buyers and buoy the stocks further higher.
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