Aug 10, 2017

Technical Buy: YONGTAI

Yongtai Stock Code: 7066
Target Price RM1.47; RM1.60
Last closing price RM1.38
Potential return 6.5%, 15.9%
Support RM1.36
Stop Loss RM1.27
yongtai chart analysis
Possible for further upside. YONGTAI’s share price was retesting previous support level in the past few days. Putting “buy the dips” strategy into practice, easing RSI and MACD indicators currently signal reasonable entry level. Should the price then rebound, it may continue to lift price higher to the subsequent resistance levels of RM1.47 and RM1.60.

However, failure to hold onto support level of RM1.36 may indicate weakness in the share price and hence, a cut-loss signal.
source: Public Investment Bank – 10/08/2017

The principal activity of the Company is that of investment holding and the principal activities of the subsidiaries are trading and retailing of textile and garment products; manufacturing and dyeing of all types of fabric and related products; and property development.