4 Malaysia Banking Stocks Poised To Breakout Despite the correction of the technology sector, the banking stocks in Malaysia are gaining strength thanks to the rising treasury yields. In fact, these 4 bank stocks MYX:CIMB , MYX:KENANGA , MYX:RHBBANK and MYX:PBBANK are poised to breakout from the accumulation structure.
Find out how to benefit from these outperforming stocks by trading at the key levels for low risk entry via either pullback trading or breakout trading.
PBBANK trade ideas
Public BankStock price tested resistance at 4.50 currently retract to find EMA support and will retest resistance at 4.50 .
Price still hover above EMA 20/40 with EMA 20 above EMA40. MA 50/150/200 all show general uptrend, hence there are many level of support below the currently pricing.
Price will continue to move up once resistance is broken.
Is this the signal of Trend Reversal?It look like public Bank in the Reversal
From last Feb 2019, it start drop
And the downtrend is resisted by 50EMA (Expontetial Moving Avereage)
And last March 2020, it V-shape rebound and break above 50EMA
And create a "higher high" (2 times) & "higher low" (2 times).
if coming week, it trade high, not break down to the lower trendline (Blue) then, it confirm uptrend.
What is your take?
<TradeVSA> PBBANK & PPBANK-C50 gonna to complete the PullbackStrength Signal in Chart:
1. Reversal with volume
2. Bag holdings
3. NS signal in daily and hourly chart
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
<TradeVSA> Potential Setup, Entry & Exit1. Lii Hen
2. Scientex
3. Public Bank
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock