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Will The Bulls Continue To Take Charge In 2010? (version 2)
 
Malaysia

AMMB
 

The uptrend for AMMB is still intact as it remains above its 20 and 50-day moving averages. In addition, the MACD trend indicator had a bullish crossover signal with the RSI oscillator currently still hovering above the 50% level. Thus all these positive configurations suggest that upside momentum is still intact and AMMB looks set for a possible rally towards its immediate resistance at RM5.32. A break above it may open up scope to target the next resistance at RM5.50. Immediate support will be at RM4.95 and failure to hold at this level may see a slide towards the next support at RM4.84.

 
 
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