BUY with a target price of RM1.39 and stop-loss at RM1.02. Based on the daily chart, NYL formed a series of higher highs and higher lows that indicates an uptrend pattern. On yesterday’s movement, NYL managed to penetrate the breakout level of RM1.11 and closed higher at RM1.12. Strong gains in trading volume in a breakout shows that genuine buyers are starting to enter this counter. Besides that, all indicators show the positive side at the moment.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 25 Jul 2017
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