YX Precious Metals ready for uptrend reversal, says RHB Retail Research

TheEdge Mon, Nov 14, 2022 07:09am - 1 year View Original


KUALA LUMPUR (Nov 14): RHB Retail Research said YX Precious Metals Bhd is ready for an uptrend reversal as it broke above the 20 sen sideways consolidation phase last Friday (Nov 11) — forming a “higher high” bullish structure above the 21-day average line.

In a trading stocks note on Monday, the research house said that if the stock remains above that level, the bulls should propel the stock towards the nearest resistance point of 22 sen, followed by the eight-week high of 24 sen — the highest point since Sept 15.

“Conversely, the bullish momentum may be reversed if it falls below the 18.5 sen support, forming a 'lower low' bearish structure below the average line,” it said.

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