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Will history repeat itself? (version 2)
 
Malaysia

May Bank
 

The uptrend for May Bank is still intact as recent price action remains well supported by its 50-day moving average. The +DI line from the Directional Movement trend indicator remaining above the –DI line coupled with the ADX trending upwards above the 20-level, suggest that the bulls are still in control and there may be further upside potential for May Bank. A break above its immediate resistance level at RM6.85 may set up an assault on the next technical resistance at RM7.35. However a violation below the immediate support zone at RM6.30-RM6.15 may likely signal a possible medium top and may see a slide towards the next classical support at RM5.35

 
 
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