YTL Corporation is poised to extend the bullish movement – testing the immediate resistance with strong volume.
RHB Retail Research Market Dateline said today (Dec 11) that the stock printed a bullish candlestick last Friday while the trading volume has surged in tandem with the share price.
The price action suggests strong bullish momentum is underway. If the stock breaks past the MYR1.70 resistance, it will climb towards the next resistance at MYR1.83, followed by MYR1.93.
On the downside, falling below the MYR1.57 support will kick off the correction phase.
Dayang is eyeing to extend the counter-trend rebound – charting a bullish candlestick with high volume.
Last Friday, the stock underwent strong buying pressure and closed with a long bullish candlestick.
If momentum follows through and the stock breaks past the MYR1.53 resistance, bullish bias will emerge.
In this case, the momentum would lift the stock towards MYR1.60, followed by MYR1.70. On the other hand, falling below the MYR1.43 support will resume the bearish phase.