KUALA LUMPUR (Feb 5): RHB Retail Research said Public Bank is aiming to extend its bullish movement after breaking past a key resistance.

In a trading stocks note on Monday, the research house said that the stock is trading at a multi-month high after it broke past the RM4.40 resistance.

It said the 21-day simple moving average line is pointing upwards, showing that the short-term trend is bullish.

“As such, expect another leg on the upside to test RM4.60, followed by RM4.80.

“On the flipside, falling below the RM4.25 support will negate the positive expectation,” it said.