YTL Power International Bhd (6742)

• YTLPOWR ended 2.8% or 2 sen to RM0.73 yesterday.

• Share price rebounded from its one-year low level and continues to trend higher on the back of improving trading volume. We believe the positive movement remains intact given the breakout from key moving averages, hence looking to test the RM0.80 level.

• As such, resistance levels are expected at RM0.775 (R1) and to RM0.810 (R2).

• Conversely, support levels can be seen at RM0.700 (S1) and RM0.670 (S2).

Source: Rakuten Research - 20 Dec 2019