afiz_285

YONGTAI : Showtime? (Medium term - wave analysis)

MYX:YONGTAI   YONG TAI BHD
We believe the correction in YONGTAI has ended earlier during March this year after it completed a deep zig zag corrective pattern. Today's bar close above the downtrendline as shown could possibly be an early move way up to RM0.77 area for wave (iii). To further confirm the bullish scenario however, we would like to see the stock push above the RM0.30 zone with a decent amount of volume. This wave count will be void if the price breaks below RM0.20 which is the termination point of wave (ii).
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