UOB Kay Hian Research Articles
Traders' Corner - PRG Holdings (PRG MK)
UOBKayHian
Publish date: Thu, 20 Jul 2017, 09:56 AM
UOBKayHian
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An official blog in I3investor to publish research reports provided by UOB Kay Hian research team.
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
- Technical BUY with +20.0% potential return
- Last price: RM1.05
- Target price: RM1.19, RM1.26
- Support: RM0.995
- Stop-loss: RM0.99
BUY with a target price of RM1.26 and stop-loss at RM0.99. Based on the chart, PRG has formed a higher high and higher low, and closed above the BBI line yesterday. Currently, the DMI shows buying momentum has overcome selling momentum. This is supported by an uptick in the RSI, and the MACD is on the verge of making a golden bullish crossover. We peg our targets at RM1.19 and RM1.26 based on 1.38x and 1.61x Fibonacci Extension levels in the near to medium term.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 20 Jul 2017
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