YBS International Bhd (YBS, 0025)
• Share price closed 10% higher at RM0.55 on Friday.
• YBS broke out from its ascending triangle formation with higher trading volume last Friday. It has also managed to trade above all its key moving averages.
• Coupled with upticks in its indicators and bullish MACD indicator, share price is expected to move higher.
• Resistance levels are identified at RM0.630 (R1) and RM0.675 (R2).
• On the flipside, support levels are pegged at RM0.510 (S1) and RM0.435 (S2).
Source: Rakuten Research - 30 May 2022
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