Thursday, March 21, 2019
PBBank: Another Banking Stock Took a Knock
Maybank is down 54 sen to RM23.92 as at 11:59am. From the monthly chart, we can see that the MACD has curved down this month. With the exception of the MACD cross-under in 2011, past few bearish signals have brought PBBank share price to at least its 40-month SMA line. If the same were to happen this time, PBBank may touch RM21.00. I think it is advisable to avoid PBBank for now.
Chart: PBBank's monthly chart as at Mar 21, 2019_11.40am (Source: Malaysiastock.biz)