YTL Corp

Y TL Corp shares dropped to a near 5½- year low of RM 1.40 on July 21 following a prolonged correction before turning range-bound, cushioned by the wake of light bargain hunting nibbling. Technically, the moving average convergence/ divergence histogram retains the sell call. In stark contrast, the mild ticking up pictogram on the stochastic and the 14- day relative strength index from the over sold area suggest a relief recovery maybe around the corner. A decisive penetration of the upper most 200day simple moving average of RM 1.53 will see the fate of this counter changing better while lower support is anticipated at the RM1.30 level, followed by the RM 1.20 mark.

The comments above do not represent a recommendation to buy or sell.