Rakuten Trade Research Reports
Technical View - Yew Lee Pacific Group Berhad
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Publish date: Tue, 13 Dec 2022, 11:01 AM
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Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
Yew Lee Pacific Group Berhad (YEWLEE, 0248)
• Share price closed 12.5% higher at RM0.36 on Monday.
• YEWLEE broke out from its resistance twice at RM0.335 and RM0.34 yesterday with high buying interest. It had formed a double bottom and rebounded to trend above its MA 20 and MA 50 lines. Coupled with bullish MACD crossover and indicators showing uptick momentum, the share price is expected to propel higher.
• Resistance level is identified at RM0.38 (R1).
• On the flipside, support levels are pegged at RM0.29 (S1) and RM0.28 (S2).
Source: Rakuten Research - 13 Dec 2022
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