Yong Tai (YTB MK)

BUY with a target price of RM1.74 and stoploss at RM1.39. Currently, YTB’s share price consolidated within the immediate support of RM1.40 before last Friday’s positive closing above the BBI to set a new tone for the shortterm outlook. We expect PW to continue to the upward movement towards the all-time high of RM1.18 and our target at RM1.24. The bullish bias has been established following an uptick in RSI and bullish crossover in both indicators; DMI and MACD. Moving forward, we expect YTB will continue the bullish movement towards the all-time high of RM1.75 in the near term.

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 9 Jul 2018