• Technical BUY on breakout with +15.2% potential return
• Last price: RM2.93
• Target price: RM3.19, RM3.41
• Support: RM2.87
• Stop-loss: RM2.86

BUY on breakout with a target price of RM3.41 and stop-loss at RM2.86. Based on the daily chart, FFB continued to form higher highs and higher lows, which indicate an uptrend. The uptick in the RSI and an increase in trading volumes suggest buying momentum is set to continue in the near term. We expect the stock to penetrate the breakout level of RM2.96. Thereafter, it should continue to trend higher towards our target prices of RM3.19 and RM3.41 in the near to medium term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 28 Jul 2017