YTL Power International’s buying momentum is back after it broke out of the 1-month bullish pennant pattern with a long white  candle on Friday. As the stock has surged to a new multi-year high, the near term bullish trend may still have legs. A bullish bias  may emerge above the RM1.10 level, with a stop-loss set at RM1.04, below the 20-day EMA. Towards the upside, the near-term  resistance level is seen at RM1.30, followed by RM1.40.

Entry : RM1.10–1.15

Target : RM1.30, RM1.40

Exit : RM1.04

Source: AmInvest Research - 22 May 2023