• Technical BUY on breakout with +18.8% potential return
• Last price: RM1.29
• Target price: RM1.49, RM1.58
• Support: RM1.19
• Stop-loss: RM1.18

BUY on breakout with a target price of RM1.58 and stop-loss at RM1.18. On yesterday’s movement, the stock closed above the BBI line, indicating upward potential in the near term. This is supported by the 7-day EMA crossing above with the 21-day EMA that indicates a bullish signal. This is consistent with the uptick in the RSI and a bullish crossover in the DMI, which suggest stronger buying momentum ahead. Currently, the MACD is on the verge of making a golden cross to the positive signal.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 27 Jul 2017