YTL Power International’s buying momentum is back after it broke out of the 3-week bullish pennant pattern with a white candle yesterday. With the stock pushing near its multi-year high, the bullish momentum may be present now. A bullish bias may emerge above the RM2.10 level, with a stop-loss set at RM1.98, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM2.35, followed by RM2.50.

Entry : RM2.10–2.16

Target : RM2.35, RM2.50

Exit : RM1.98

Source: AmInvest Research - 19 Sept 2023