• Technical BUY on breakout with +30.1% potential return
• Last price: RM0.365
• Target price: RM0.44, RM0.475
• Support: RM0.31
• Stop-loss: RM0.305

BUY on breakout with a target price of RM0.475 and stop-loss at RM0.305. Currently, share price is consolidating within the immediate support of RM0.31 and yesterday’s positive closing above the BBI sets a new tone for the short-term outlook. We expect MMB to continue the upwards movement once it manages to penetrate the breakout level of RM0.365 This bullish movement is supported by an uptick in the RSI and bullish crossover in MACD and DMI.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 2 Aug 2017