• Technical BUY on breakout with +24.6% potential return
• Last price : RM0.935 Target price : RM1.12, RM1.19
• Support : RM0.895
• Stop-loss : RM0.89

BUY on breakout with a target price of RM1.19 and stop-loss at RM0.89. Based on the daily chart, the share price has since consolidated and yesterday’s closing placed BREM in new territory, suggesting renewed buying interest, which in our view will establish a new up-leg. This is supported by the MACD and DMI, which are both currently on a bullish crossover. We peg our targets at RM1.12 and RM1.19 once it manages to penetrate the breakout level of RM0.955 in the near term.

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 25 May 2017