PublicInvest Research

Author: PublicInvest   |   Latest post: Fri, 5 Mar 2021, 9:38 AM


Technical Buy - YONGTAI (7066)

Author:   |    Publish date:

  • Target Price: RM0.315, RM0.335
  • Last closing price: RM0.295
  • Potential return: 6.7%, 13.5%
  • Support: RM0.290
  • Stop Loss: RM0.275

Possible for sideways breakout. YONGTAI is staging a potential breakout from its current sideways channel. Corresponding RSI and MACD indicators remain healthy while trending sideways, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.315 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.335.

However, failure to hold on to support level of RM0.290 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 20 Jan 2021

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Chart Stock Name Last Change Volume 
YONGTAI 0.205 -0.005 (2.38%) 18,130,200 

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