BUY with a target price of RM1.73 and stop-loss at RM1.34. Based on the daily chart, AQRS has formed a series of higher highs and higher lows that indicate an uptrend pattern. A buying signal has been given as the price has been trading above the Ichimoku cloud. This supported by the Heat Wave indicators - Tenkan-sen line, Kinjun-sen line and the Chikao span line - showing bullish signals. The uptick in the DMI together with the high trading volume suggests that buying momentum is set to continue in the near term. We peg our targets at RM1.64 and RM1.73 in near to medium term.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 30 May 2017
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