Yoma (technical)

Yoma: Technical breakout for the counter today on good volume, after trading in a downtrend for the past 6 months. In the near-term, Yoma may test its next resistance at $0.775 followed by $0.80. Fundamentally, CLSA's recent roadshow saw reasonable interest of Yoma, but rich valuations and lack of understanding for the country’s property market are key pushbacks. Many investors are eagerly waiting for the approval of Landmark development’slease extension which is viewed as the biggest overhang for stock rerating at themoment.