Shares of Yanlord Land Group (Z25.SI) surged 4.81% in intraday trading on Wednesday, as investors reacted to a bullish technical analysis report released earlier in the day. The property developer's stock price movement aligns with predictions made by analysts, suggesting further upside potential.

According to Phillip Securities Research analyst Zane Aw, Yanlord Land's stock showed promising technical indicators that could lead to extended price gains. The analysis highlighted that the stock had broken above a key resistance level of S$0.515 on Tuesday, forming an ascending triangle pattern. This breakthrough is typically considered a bullish signal by technical traders.

Further supporting the positive outlook, Aw noted that the Moving Average Convergence Divergence (MACD) indicator showed increasing momentum while remaining above the zero line. Based on these technical factors, the analyst projected that Yanlord Land's stock price could potentially reach S$0.560, a level last seen as a horizontal support in late February 2025. The combination of these technical indicators and the subsequent price surge suggests that investors are responding favorably to the analysis, driving the stock's significant intraday gain.