YTL Power International’s buying interest is back after it broke out of the 2-week bullish flag pattern with a long white candle yesterday. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in early Dec22, the uptrend may continue in the near term. A bullish bias may emerge above the RM0.87 level, with a stop-loss set at RM0.82, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM0.95, followed by RM1.00.
Entry : RM0.87–0.89
Target : RM0.95, RM1.00
Exit : RM0.82
Source: AmInvest Research - 23 Mar 2023
