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• Technical BUY on breakout with +31.0% potential return
• Last price: RM0.28
• Target price: RM0.335, RM0.38
• Support: RM0.255
• Stop-loss: RM0.245

BUY on breakout with a target price of RM0.38 and stop-loss at RM0.245. Share price has consolidated within the immediate support of RM0.255 before yesterday’s positive closing above the BBI sets a new tone for the short-term outlook. We expect KARY to continue to make higher highs and higher lows towards our target once it penetrates the breakout level of RM0.29. The bullish bias has been established following an uptick in the DMI and a bullish crossover in the MACD. We peg our targets at RM0.335 and RM0.38 in the near term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 13 Jul 2017