KUALA LUMPUR: OSK Retail Research is betting on a major breakout for YTL Land & Development.
It said on Tuesday, Oct 25 that a rumour has been going around in the market that a few YTL companies may be involved in a corporate exercise.
OSK Research said that on Monday, besides YTL Land, YTL Corp was also among the most actively traded stocks.
It added that YTL Land is now consolidating the sharp rebound which started from the 75.5 sen low recorded in September.
“Although its recent strong rebound is still perceived as a bearish rebound, traders can consider accumulating the shares during the current consolidation phase and bet on a major breakout from the downtrend line extending all the way from the peak recorded early this year,” it said.
It said on Tuesday, Oct 25 that a rumour has been going around in the market that a few YTL companies may be involved in a corporate exercise.
OSK Research said that on Monday, besides YTL Land, YTL Corp was also among the most actively traded stocks.
It added that YTL Land is now consolidating the sharp rebound which started from the 75.5 sen low recorded in September.
“Although its recent strong rebound is still perceived as a bearish rebound, traders can consider accumulating the shares during the current consolidation phase and bet on a major breakout from the downtrend line extending all the way from the peak recorded early this year,” it said.
