YTL Power International Bhd (6742)

• YTLPOWR gained 1 sen or 1.36% to RM0.745 yesterday.

• Share price which has dropped 27.7% for the past one year may have shown signs of bottoming following the breakout from its 52-week low at RM0.685 in late Aug, suggesting renewed buying interest on the stock. With the upward movement of key RSI indicator and positive state of MACD, we expect the buying momentum to sustain.

• As such, resistance levels are identified at RM0.78 (R1) and further to RM0.80 (R2).

• Likewise, support levels are found at RM0.70 (S1) and RM0.685 (S2).

Source: Rakuten Research - 24 Sept 2019