We expect further upside for YTL Power International given that it pushed marginally above the 7-week downtrend line on Friday. In view that the 20-day and 50-day EMAs are starting to turn upwards, a positive outlook can be expected here. A bullish bias may emerge above the RM1.30 level, with a stop-loss set at RM1.18, below the 50-day EMA. Towards the upside, the nearterm resistance level is seen at RM1.40, followed by RM1.50.

Entry : RM1.30–1.31

Target : RM1.40, RM1.50

Exit : RM1.18

Source: AmInvest Research - 24 Jul 2023