RHB Retail Research
Trading Stocks - YLI
YLI has seen buying interest increasing lately. The stock is testing the immediate resistance level marked at MYR0.46. We notice that the stock is moving higher in tandem with volume, showing that positive momentum is building up. If it breaks out from the resistance level, expect the momentum to drive it towards the next resistance pegged at MYR0.49 and followed by MYR0.525. A downside breach of the MYR0.39 support level will nullify this expectation and see further share price corrections.
Source: RHB Securities Research - 5 Jan 2021
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