KUALA LUMPUR (Oct 21): RHB Retail Research said Yong Tai Bhd may trend higher after surpassing the RM1.17 level and ‘Ascending Triangle’ pattern to reach a multi-year high.

In a trading stocks note today, a bullish bias may be present above this point, with a target price of RM1.36.

It said the stock may consolidate further if it cannot sustain above the RM1.17 mark in the near term.

“In this case, support may be found at RM1.05, where traders can exit upon a breach to avoid the risk of a further correction,” it said.