UOB Kay Hian Research Articles
Traders' Corner : Three-A Resources (TARE MK)
UOBKayHian
Publish date: Tue, 20 Jun 2017, 01:27 PM
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An official blog in I3investor to publish research reports provided by UOB Kay Hian research team.
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
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All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
- Technical BUY on breakout with +29.1% potential return
- Last price: RM1.31
- Target price: RM1.64, RM1.73
- Support: RM1.22
- Stop-loss: RM1.21
BUY on breakout with a target price of RM1.73 and stop-loss at RM1.21. Based on the daily chart, share price has consolidated lower and has been trading sideways for the past few weeks. We expect share price to continue to move up if it penetrates the breakout level of RM1.34. Positive readings in both the RSI and the DMI should translate into stronger momentum, which will in turn lift share price. We peg our targets at RM1.64 and RM1.73 for the near to medium term.
Expected Timeframe: 2 weeks to 3 months
Source: UOB Kay Hian Research - 20 Jun 2017
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