• Technical BUY on breakout with +16.1% potential return
• Last price: RM1.61
• Target price: RM1.77, RM1.87
• Support: RM1.50
• Stop-loss: RM1.49

BUY on breakout with a target price of RM1.87 and stop-loss at RM1.49. On yesterday’s trading activity, share price managed to form a breakaway gap and we expect OKAC to continue the upward movement thereafter. This bullish movement was supported by the DMI that is currently showing a positive signal. This also consistent with the uptick in the RSI which suggests stronger buying momentum ahead. We peg our targets based on 1.38x and 1.61x Fibonacci Extension level at RM1.77 and RM1.87.

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 30 May 2017