BUY on breakout with a target price of RM0.61 and stop-loss at RM0.42. Based on the daily chart, share price is recovering gradually and has moved above the 7- and 21-day EMAs after a huge drop from the previous high of RM0.615. This was supported by the rising DMI and RSI indicators, which indicate that the positive momentum will strengthen in the near term. We expect the stock to continue moving towards our targets at RM0.565 and RM0.61 once it manages to penetrate the breakout level of RM0.48.
Expected Timeframe: 2 weeks to 2 months.
Source: UOB Kay Hian Research - 21 Jun 2017
Chart | Stock Name | Last | Change | Volume |
---|
Created by UOBKayHian | Aug 26, 2022
Created by UOBKayHian | Feb 24, 2022
Created by UOBKayHian | Dec 13, 2021
Created by UOBKayHian | Jul 12, 2021
Created by UOBKayHian | Jan 29, 2020