YTL Power International surged and tested the RM0.635 resistance level. With its RSI indicator pointing upward, coupled with a higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.66, followed by RM0.67. The downside support is marked at RM0.61. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on pullback RM0.635

Target: RM0.66, RM0.67 (time frame: 2-4 weeks)

Exit: RM0.61
 

Source: AmInvest Research - 17 Jan 2022