Yinson Holdings Bhd (7293)

• YINSON closed unchanged at RM6.70 yesterday.

• Share price tested its support yesterday’s hitting an intra-day low of RM6.57 and managed to recover to close unchanged suggesting strong support level amid some bargain hunting.

• Recent selling on the counter is overdone when it fell from its high of RM7.31 and is likely to stage a technical rebound soon.

• As such, resistance levels are expected at RM6.90 (R1) and further to RM7.31 (R2).

• Conversely, support levels are found at RM6.57 (S1) and RM6.36 (S2).

Source: Rakuten Research - 7 Nov 2019