YTL Corporation surged above its 20-day EMA and closed above the RM1.62 resistance on Friday, which likely indicates the return of buying interest. With the stock posting a long white candle and hitting a new multi-year high, it may see additional strength in the near term. A bullish bias may emerge above the RM1.62 level, with stop-loss set at RM1.46, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.90, followed by RM2.00.

Entry : RM1.62–1.69

Target : RM1.90, RM2.00

Exit : RM1.46

Source: AmInvest Research - 11 Dec 2023