YTL Power International may undergo a technical rebound after charted a candlestick with long lower shadow. Trading volume decreased yesterday, showing that selling pressure has moderated. In the event that the stock climbs above the MYR3.95 resistance level, a technical rebound may be seen. The counter would then test the next resistance level at MYR4.20, followed by the one at MYR4.50. However, a fall below the MYR3.65 support level would lead to the resumption of the correction phase.
Source: RHB Securities Research - 16 Jan 2025
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