BUY with a target price of RM1.59 and stop-loss at RM1.27. Based on the daily chart, YOCB penetrated the breakout level of RM1.38 and closed higher at RM1.39 yesterday. Buying signal is intact with the stock currently trading above the cloud. The Heat Wave indicators - Tenkan-sen line, Kinjun-sen line and the Chikao span line - show bullish signals. This is supported by an uptick in the RSI and bullish crossover in the DMI. Currently, the MACD is on the verge of making a golden cross to positive signal. We peg our targets at RM1.52 and RM1.59 in the near to medium term.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 18 Jul 2017
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