PBBank: Another Banking Stock Took a Knock

PBBank 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)

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