YTL Land

YTL Land & Development Bhd staged a technical rebound to step out of its recentdowntrend yesterday. Its daily price trend rebounded to close at RM1.37yesterday, giving a day-on-day gain of 7 sen, or 5.39 per cent. Chartwise, YTL Land & Development's daily price trend fell from its high ofRM1.47 on May 7 to its intra-day low of RM1.23 on May 15, posting a total lossof 24 sen, or 16.33 per cent. Its daily price trend staged a breakout of its intermediate-term downtrendresistance (B1:B2) yesterday. Its daily price trend continued to rise to its intra-day high of RM1.38. Its daily fast Moving Average Convergence/Divergence (MACD) indicator staged a"golden cross" of its daily slow MACD yesterday. Both its hourly fast and slowMACDs continued to stay above their respective neutral reference lines. YTL Land & Development's daily price trend is likely to stage a follow-throughrebound to re-challenge its previous resistance high.