Feb 17, 2016

AMMB - Breakout From Consolidation

AMMB Stock Code : 1015

AMMB share analysis

Technical Comments: AMMB shares breakout from consolidation on bullish momentum, signalling further upside bias towards the 76.4%FR (RM4.68), with a confirmed breakout to aim for the 61.8%FR (RM5.00) and 50%FR (RM5.26) ahead. Key supports are from the lower Bollinger band (RM4.26) and 26/8/15 low (RM4.17). A convincing breakout above the 23.6%FR (RM4.49) on CIMB should enhance upside towards the 38.2%FR (RM4.83) and 50%FR (RM5.12) going forward, while crucial chart support is from the 18/1/16 low (RM3.93).

AMMB technical data

source: TA Securities Research 17/02/216


The Company provides a wide range of merchant banking commercial banking retail financing and related financial services which also include the Islamic Banking Business underwriting of general and life insurance stock and share-broking future broking investment advisory and asset property and unit trust management.