MAYBANK Technical Analysis 11/04/2019
1155Since Jul 2018, MAYBANK had entered into sideway after sharp declining from RM 10.88 to RM 9.00 in 1 month time. Since then, MAYBANK is trading within RM1.00 range (RM 9.00 - RM 10.00).
From my graph, as you can see, the MAYBANK is in a short term downtrend (A1 & B1 line). And in Mar 22, it had breakout downward of the short-term upward triangle pattern (A1 & B1 to C1).
Thus, I would suggest that MAYBANK will remain sideway within the short term downward range, however, the MACD had just golden cross at the bottom and we should expect a small rebound in the next few trading days.
DISCLAIMER: JUST FOR SHARING PURPOSE. NO BUY OR SELL CALL INTENDED.
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