• Technical BUY on breakout with +11.8% potential return
• Last price: RM1.84
• Target price: RM1.99, RM2.08
• Support: RM1.78
• Stop-loss: RM1.77

BUY on breakout with a target price of RM2.08 and stop-loss at RM1.77. Based on the daily chart, PAR’s share price is currently making higher highs and higher lows, which is a key characteristic of an uptrend pattern after a pull-back from the previous high of RM1.91. The uptick in the RSI, together with the high trading volume, suggests that the buying momentum is set to continue in the near term. Currently, DMI shows bullish crossovers which support the upward momentum. We peg our targets at RM1.99 and RM2.08 respectively.

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 22 Jun 2017