• Technical BUY on breakout with +14.9% potential return
• Last price: RM1.32
• Target price: RM1.48, RM1.54
• Support: RM1.28
• Stop-loss: RM1.27

BUY on breakout with a target price of RM1.54 and stop-loss at RM1.27 Yesterday’s price spike sees CHIN breaking out to stage a convincing move above the 7- and 21-day EMA on sideway mode after being on sideway mode in the last few weeks. Yesterday’s gain was also on a high trading volume while the rising MACD and RSI indicators imply the positive momentum would strengthen further in the near term. We expect the stock to continue to move towards its all-time high of RM1.49 and our targets at RM1.54 and RM1.99 in the near to medium term.

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 19 Jul 2017