Yinson Holdings is set to rebound towards its 10-week high as it bounced off its 21-day average line while reclaiming above the MYR2.22 previous breakout – this follows the recent pullback. Since it has formed a “higher low” bullish pattern above the average line, the bullish momentum above the breakout level may continue to dominate – propelling the stock towards the 10- week high of MYR2.37, which was 15 Sep’s high. This is followed by MYR2.52, ie the highest level since 13 Jan. Conversely, the momentum may lose steam if the counter falls below the MYR2.18 support, forming a “lower low” bearish structure beneath the average line.
Source: RHB Securities Research - 22 Nov 2022
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Created by rhbinvest | Apr 23, 2024
Created by rhbinvest | Apr 22, 2024
Created by rhbinvest | Apr 22, 2024