Yinson Holdings Bhd (stock code 7293) –Trading/Services – RM1.63
above: Yinson Daily Chart (click to enlarge)
Chart wise:
Yinson staged a spectacular breakout last week when it broke through the RM1.54 resistance and hit a high of RM1.67 before it corrected on profit taking. It fille d the range of its up-trending channel that posed a resistance at the RM1.67 range. Extending from the short-term 5 day moving averages, we expect some support at RM1.39 for its current correction.
We believe Yinson is poised for further upsides after this correction. Backed by improving fundamentals, its technical outlook is further enhanced and we call for a buy on weakness.
by Mercury Securities
