YTL Corporation is poised to extend the bullish movement – testing the immediate resistance with strong volume. 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.

Source: RHB Securities Research - 11 Dec 2023