• Technical BUY on breakout with +16.2% potential return
• Last price: RM1.45
• Target price: RM1.61, RM1.72
• Support: RM1.38
• Stop-loss: RM1.37

BUY on breakout with a target price of RM1.72 and stop-loss at RM1.37. The uptick in the DMI and the increase in trading volume suggest buying momentum is set to continue in the near term. We expect the stock to continue trending up towards the breakout level of RM1.48 in the current upleg. A breakout above this level would extend the uptrend towards the previous high of RM1.62, the psychological resistance level of RM1.62 and our target at RM1.72.

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 11 Jul 2017