Yoma (technical)

Yoma: OCBC had a technical alert earlier this wk. Pattern still looks valid. The house notes the sharp bullish break above the $0.42 key resistance on heavy volume. Believes price could trend higher towards the next key obstacle around $0.52 in the weeks ahead. Says, with MACD still steadily climbing after a recent bullish cross over, this implies that the upside momentum is building up. Sees $0.42 as a newly established vital resistance-turned support level. OCBC has a fundamental Buy rating with TP $0.45.