YTLPOWR Technical Analysis Chart:

Technical Analysis:

Support level at RM3.88, resistance level at RM4.14

Facing significant resistance after reaching RM3.975 due to high trading volume

Market News:

On August 21st, YTL Power released its second quarter financial report for the fiscal year, with a net profit of RM3.5 billion, a 75% increase compared to the previous year's RM2 billion , an increase of RM1.5 billion. The group attributed the profit increase to better performance in the power generation sector. For the fiscal year ending June 30, 2024, YTLPOWR's operating income was RM22.32 billion, an increase of RM430 million compared to June 30, 2023, representing a 2.0% increase. The increase in pre-tax profit was mainly due to the better profit margin in the power generation sector, lower interest expenses due to loan repayments, and the strength of the Singapore Dollar against the Malaysian Ringgit. However, the decrease in operating income was mainly due to lower pool prices, partially offsetting the strength of the Singapore Dollar against the Malaysian Ringgit.

Overall Analysis:

In terms of technical analysis, the key levels for the stock price are the high trading volume area at RM3.975 and the resistance level at RM4.14. On the news front, the strong financial performance should provide support for the stock price. Overall, there is short-term upward momentum for the stock price, but a failure to break through the RM3.975 resistance level may lead to a pullback. In the long term, if the company can maintain strong operational performance, the stock price is likely to continue to rise.