• Technical BUY on breakout with +40.0% potential return
• Last price: RM0.17
• Target price: RM0.215, RM0.265
• Support: RM0.14
• Stop-loss: RM0.135

BUY on breakout with a target price of RM0.265 and stop-loss at RM0.135. The emergence of fresh buying in the last few trading days indicates selling pressure has eased. A breach of the breakout level at RM0.175 would likely spur further buying interest. This is supported by a bullish crossover in the MACD and a positive reading in the RSI which indicate strong momentum to push share price higher. We peg our targets at RM0.215 and RM0.265 in the near term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 20 Jul 2017