KUALA LUMPUR (July 18): RHB Retail Research said Yoong Onn Corporation Bhd may climb higher after posting a long white candle and hitting its new 52-week high.
In a trading stocks note today, the research house said this can be viewed as a continuation of the bulls extending the rebound from July 11’s “Hammer” pattern.
“A bullish bias may appear above the RM1.35 level, with an exit set below the RM1.24 threshold.
“To the upside, the immediate resistance point is anticipated at the RM1.65 level. This is followed by the RM1.80 level,” it said.