KUALA LUMPUR (Jan 18): AllianceDBS Research said Malayan Banking Bhd (Maybank) had on Jan 17 traded higher to settle at the day’s high of RM9.88 (up 3 sen or 0.30%).

In its stock trend monitor yesterday, the research house said MayBank continued to trade above the 20-day (blue) and 50-day (red) moving average lines.

“Given the recent share price behaviour, the stock is likely to move between RM9.78 and RM9.90 in the coming few days.

“A fall below RM9.78 should see further price decline to the subsequent support at RM9.66.

“However, a rise above RM9.90 would lift the stock to the next resistance at RM10.0,” it said.

AllianceDBS Research said stock volume traded on Jan 17 was 6.24 million shares compared to the 3-month average volume of 11.4 million shares.

The research house said that indicators wise, the MACD line was marginally above the 9-day moving average line with the buy signal remains intact.

It said the relative strength index indicated that the stock was currently in a neutral zone.