Rakuten Trade Research Reports
Technical View - YTL Power International Bhd (YTLPOWR,6742)
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Publish date: Wed, 08 Jul 2020, 05:24 PM
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Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
YTL Power International Bhd (6742)
• YTLPOWR closed 5.0% or 3.5 sen higher to RM0.735 yesterday.
• Yesterday’s surge formed a bullish breakout from its key 200-day moving average on the back of higher trading volume indicating strong buying momentum. With the cut in OPR, high dividend yield stocks such as YTLPOWR is expected to see renewed interest, hence we believe share price is likely to move higher.
• Resistance levels are expected at RM0.760 (R1) and then to RM0.845 (R2).
• On the downside, support levels are identified at RM0.700 (S1) and RM0.660 (S2).
Source: Rakuten Research - 8 Jul 2020
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