• Technical BUY with +13.1% potential return
• Last price: RM1.76
• Target price: RM1.91, RM1.99
• Support: RM1.70
• Stop-loss: RM1.69

BUY with a target price of RM1.99 and stop-loss at RM1.69. Currently, share price is consolidating within the immediate support of RM1.70 and yesterday’s positive closing above the BBI set a new tone for the short-term outlook. We expect RCE to move higher and retest the all-time high of RM1.91 and thus move towards our target at RM1.99 in the near term. This positive movement is supported by an uptick in the RSI and bullish crossover in the MACD and DMI.

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 25 Jul 2017