KUALA LUMPUR (Jan 18): OSK Retail Research said YTL Power International has been consolidating very well on the strong rebound recorded on the week of Oct 11, 2011.
The research house said it seems like the consolidation phase could create a new base for the stock. “Traders can accumulate the shares during the consolidation phase at prices ranging from the RM1.74 level to the RM1.93 level.
“As its share price has already retraced by about 40% from the RM2.76 peak seen in November 2010 to a low RM1.63 in October last year, a break above the consolidation zone may result in strong upward momentum ahead,” it said.
The research house said it seems like the consolidation phase could create a new base for the stock. “Traders can accumulate the shares during the consolidation phase at prices ranging from the RM1.74 level to the RM1.93 level.
“As its share price has already retraced by about 40% from the RM2.76 peak seen in November 2010 to a low RM1.63 in October last year, a break above the consolidation zone may result in strong upward momentum ahead,” it said.
