KUALA LUMPUR (Feb 26): Rakuten Trade said it believes buying interest in YTL Power International Bhd has returned after it broke out from its one-month bullish flag pattern last Friday.
In a technical view note on Monday, the research house said higher trading volume sent the share price to bounce off the 20-day exponential moving average line on the back of fresh uptick in the relative strength index, signalling bullish momentum is picking up further.
“We expect the rising momentum is set to steer the stock higher and test the next level of resistance of RM4.25 (R1) and RM4.40 (R2) in the near term.
“On the downside, stop-loss is set at RM3.62, below the Jan 22’s low,” it said.
Source: TheEdge - 27 Feb 2024
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Created by edgeinvest | Jul 03, 2024
Created by edgeinvest | Jul 03, 2024
Created by edgeinvest | Jul 03, 2024