YONGTAI has been trading above its upward sloping 20-Day Moving Average which is a good sign. It is important to calculate the risk/reward as the recent upward movement has pushed the price to be quite far from the support level of 0.56. Yongtai closed Friday at 0.595 with raised volume of 2.4 mil over the last 7 trading days.

It looks like Yongtai should be treading higher next week to test its resistance at 0.61 and its  recent high of 0.635 whereupon a breach will set to sail through  0.71 level. Traders  may  buy  if  0.61   level  is  breached  in  the  near  term,  with  a target  price  of  MYR0.71.  In  the  meantime,  the  stock  may  drift sideways if the MYR0.61  level  cannot be surpassed.  Support may then be found at MYR0.555, where traders can exit upon a breach.

Happy Trading

BURSAMASTER