YTL Corporation may rise higher after it formed a long white candle and hit a new 52-week high 2 sessions ago. Given that the stock has broken out from the 2-week bullish pennant pattern, the uptrend may continue in the near term. A bullish bias may emerge above the RM0.64 level, with a stop-loss set at RM0.59, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM0.70, followed by RM0.75.

Entry : RM0.64–0.66

Target : RM0.70, RM0.75

Exit : RM0.59

Source: AmInvest Research - 19 Apr 2023