Malayan Banking Bhd (Maybank) is acquiring a 44.63% controlling stake in Singapore-listed stockbroking firm KimEng Holdings Ltd in an all cash deal worth S$798.44 million (RM1.9 billion) ..This has brought Maybank to the attention of more investors and has since came out the consolidation at RM8.50 level.
Maybank chart above shows that it is following the uptrend channel and after a good spike it is in consolidation mood right now. My guess is to watch out for the price to weaken a little further, say below RM8.80 level to accumulate and sell it if the price hit the upper channel into the future
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