Yesterday, YINSON advanced by 31 sen to close at RM5.20. As a result of the bullish move, the share price has finally broken out of its RM4.77-RM5.15 congestion zone. Furthermore, the technical picture exhibits classic signs of a "Bollinger Squeeze" pointing to subsequent break out with high volume. This suggests that a rally could be on the cards, and YINSON could potentially extend its gains towards RM6.00 next (123.6% Fibonacci Projection level). At the same time, the downside appears limited and we see strong support at RM4.77.

 

Source: Kenanga