Telekom Malaysia Malaysia Building Society
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8 June 2021 Joseph Chai TEL : +6(03) 9280 8870 Trading Stocks EMAIL : [email protected] Telekom Malaysia Malaysia Building Society + Resistance: Resistance: MYR6.70 MYR0.71 Resistance: MYR6.54 Resistance: MYR0.68 Resistance: Resistance: MYR6.20 MYR0.645 Support: MYR5.91 Support: MYR0.605 21-day SMA line 21-day SMA line Source: RHB, Bloomberg Source: RHB, Bloomberg Telekom Malaysia is set to bounce off from a recent pullback, Malaysia Building Society may be poised for a technical after a “Bullish Marubozu” emerged last Friday, on strong trading rebound after retracing on lower volume recently. The shrinking volume. Supported by a “higher low” pattern formed above its 21- volume indicates that selling pressure is subsiding. Meanwhile, day SMA line, the bullish momentum should appear if it breaches a bullish bias should emerge if it breaches above the MYR0.645 above the immediate resistance marked at MYR6.20. If this resistance level – forming a “higher low” pattern above the 21- happens, the bulls may lift the stock towards the MYR6.54 and day SMA line. The next resistance is at MYR0.68, followed by MYR6.70 resistance levels. That said, breaching below the MYR0.71. If it falls below the MYR0.605 support, the stock may MYR5.91 support level may cancel this expectation. move downwards. RHB Retail Research / Market Dateline / PP19489/05/2019 (035080) Page 1 of 5 See important disclosures at the end of this report 8 June 2021 CIMB Group Holdings Vivocom Intl Holdings + Resistance: MYR4.56 Support: MYR4.36 Resistance: MYR0.85 Resistance: MYR0.775 Support: MYR0.74 Support: MYR0.70 21-day SMA line 21-day SMA line Source: RHB, Bloomberg Source: RHB, Bloomberg CIMB Group Holdings is set for a major breakout beyond its Vivocom Intl Holdings is poised for a major rebound, as it recent high after it retraced from a strong rebound recently. If moved away from its sideways consolidation phase yesterday. the stock breaks above the immediate resistance level of Premised on high volume above the 21-day SMA line (curving MYR4.56 – marking a “higher low” structure above the 21-day upwards), the bullish bias is expected to stay above the SMA line – a bullish bias is expected to emerge. Then, the stock MYR0.74 resistance-turned-support level. If that remains, the may climb towards the recent high of MYR4.70 before it pushes stock may travel higher towards the next resistance of further towards the MYR4.94 multi-month high. This MYR0.775 before propelling further towards the MYR0.85 expectation would be reversed if it drops below the MYR4.36 hurdle. This expectation would be nullified if the stock falls support level. below the MYR0.70 support level. RHB Retail Research / Market Dateline / PP19489/05/2019 (035080) Page 2 of 5 See important disclosures at the end of this report 8 June 2021 RHB Guide to Retail Research Technical Ratings^ This report does not purport to be comprehensive or to contain all the information that Long: To initiate a long position a prospective investor may need in order to make an investment decision. The Short: To initiate a short position recipient of this report is making its own independent assessment and decisions Maintain Long: Maintain long position regarding any securities or financial instruments referenced herein. Any investment Maintain Short: Maintain short position discussed or recommended in this report may be unsuitable for an investor depending Take Profit: Close the position after the share price has reached a defined level on the investor’s specific investment objectives and financial position. 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