UOB Kay Hian Research Articles
Traders' Corner - Media Chinese International Ltd (MCIL MK)
UOBKayHian
Publish date: Tue, 08 Aug 2017, 10:17 AM
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An official blog in I3investor to publish research reports provided by UOB Kay Hian research team.
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
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All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
- Technical BUY on breakout with +25.2% potential return
- Last price: RM0.54
- Target price: RM0.645, RM0.695
- Support: RM0.50
- Stop-loss: RM0.495
BUY on breakout with a target price of RM0.695 and stop-loss at RM0.495. Based on the daily chart, share price is recovering gradually and moving above the 7- and 21-day EMA following yesterday’s spike. This is supported by the rising DMI and RSI indicators, indicating the positive momentum would strengthen in the near term. We peg our targets at RM0.645 and RM0.695 in the near to medium term.
Expected Timeframe: 2 weeks to 2 months.
Source: UOB Kay Hian Research - 8 Aug 2017
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