YTL Power International may trend higher after it broke above the RM2.20 resistance and hit a new multi-year high 2 weeks ago. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in early March, the uptrend may persist in the near term. A bullish bias may emerge above the RM2.20 level, with a stop-loss set at RM1.98, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM2.40, followed by RM2.60.

Entry : RM2.20–2.26

Target : RM2.40, RM2.60

Exit : RM1.98

Source: AmInvest Research - 15 Nov 2023