• Technical BUY with +35.3% potential return
• Last price: RM0.17 Target price: RM0.23, RM0.255
• Support: RM0.15
• Stop-loss: RM0.145

BUY on breakout with a target price of RM0.255 and stop-loss at RM0.145. Yesterday’s strong gain placed share price in new territory as EDHB made a breakout at RM0.175 but closed lower at RM0.18. Given higher trading volumes, we opine a new up-leg has started. Additionally, the rising momentum as shown by both the positive DMI and RSI readings should ensure an upward trend. We peg our upside targets at RM0.23 and RM0.255 in the near term.

Source: UOB Kay Hian Research - 12 Jul 2017