• Technical BUY on breakout with +20.9% potential return
• Last price: RM1.33
• Target price: RM1.51, RM1.62
• Support: RM1.22
• Stop-loss: RM1.21

BUY on breakout with a target price of RM1.62 and stop-loss at RM1.21. Based on the daily chart, CLH formed a series of higher highs and higher lows that indicate an uptrend. It closed at an all-time high of RM1.33. This is supported by an uptick in the RSI and a bullish crossover in the DMI and the MACD. We peg our targets based on 1.38x and 1.61x Fibonacci Extension levels at RM1.51 and RM1.62 once the stock breaks above the all-time high of RM1.33.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 6 Jun 2017