• Share price closed 5.9% higher at RM0.535 on Monday.
• YBS is trading on a midterm uptrend and managed to close above all its key moving averages.
• Backed by upticks in its indicators and bullish MACD crossover, we believe its share price is expected to move higher in the short-term mirroring its previous uptrend movement.
• Resistance levels are identified at RM0.550 (R1) and RM0.595 (R2).
• On the flipside, support levels are pegged at RM0.505 (S1) and RM0.455 (S2).
Source: Rakuten Research - 1 Jul 2022
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