YTL Power International has undergone a breakout and is poised to extend the bullish trajectory. Yesterday, the stock climbed above the MYR2.33 resistance and charted a fresh “higher high”. The 21-day SMA line is trending higher, which indicates that the bullish setup is getting firmer. After the breakout, the stock may test the next resistance of MYR2.50, followed by MYR2.63. Towards the downside, falling below the MYR2.20 support will nullify the bullish setup.

Source: RHB Securities Research - 17 Nov 2023