PublicInvest Research

Author: PublicInvest   |   Latest post: Tue, 19 Nov 2019, 9:18 AM


Technical Buy: YONGTAI (7066)

Author:   |    Publish date:

  • Target Price: RM0.420, RM0.480
  • Last closing price: RM0.385
  • Potential return: 9.0%, 24.6%
  • Support: RM0.360
  • Stop Loss: RM0.345

Possible for bottom fishing. YONGTAI is showing signs of recovery from its consolidation phase. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should resistance level of RM0.420 be broken, it may continue to lift price higher to subsequent resistance level of RM0.480.

However, failure to hold on to support level of RM0.360 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 10 Jan 2019

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