• Target Price: RM1.07, RM1.14
• Last closing price: RM0.980
• Potential return: 9.1%, 16.3%
• Support: RM0.945
• Stop Loss: RM0.920

Possible for chart pattern breakout. EVERGRN’s share price consistently squeezed itself into formation of symmetrical triangle. From a weekly perspective, both bullish RSI and MACD indicators signal reasonable entry level, with anticipation that continuous improvement in momentum and trend tend to be leading to breakout of aforementioned triangle pattern. Should RM1.07 resistance level be broken, it may continue to lift the price higher to the next resistance level of RM1.14.

However, failure to hold at support level of RM0.945 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 4 Jan 2017