Yew Lee Pacific Group Berhad

• Share price closed 3.03% higher at RM0.34 on Friday.

• YEWLEE broke out from its resistance twice at RM0.33 and RM0.333 last Friday with decent buying interests. It has been hovering near its support level of RM0.30 over the past 2 weeks and rebounded marginally for the past 2 trading days. Coupled with indicators showing uptick momentum, share price is expected to propel higher.

• Resistance levels are identified at RM0.36 (R1) and RM0.37 (R2).

• On the flipside, support levels are pegged at RM0.30 (S1) and RM0.287 (S2).

Source: Rakuten Research - 20 Mar 2023

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