• Technical BUY with +11.3% potential return
• Last price: RM1.41
• Target price: RM1.51, RM1.57
• Support: RM1.32
• Stop-loss: RM1.31

BUY with a target price of RM1.57 and stop-loss at RM1.31. On yesterday’s movement, share price managed to penetrate the breakout level of RM1.41 and close above the BBI line to maintain the bullish momentum towards the all-time high of RM1.58. This is supported by the DMI’s bullish crossover and is consistent with the uptick in the RSI which suggests stronger buying momentum ahead. We peg our targets at RM1.51 and RM1.57 respectively in the short term to medium term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 3 Aug 2017