YTL Corporation Berhad

• YTL gapped up from a bullish flag pattern yesterday with a strong white candlestick, accompanied by a significant spike in trading volume, signalling positive interest. The stock decisively broke above the near-term consolidation resistance at RM2.28, coupled with the convergence of the 20-day EMA further reinforcing its upward trajectory.

• We expect the rising momentum to steer the stock higher and test the next resistance at RM2.65 (R1) followed by RM3.00 (R2) in the near term.

• On the downside, stop-loss is set at RM2.11.

Source: Rakuten Research - 20 Dec 2024

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