• Technical BUY with +26.8% potential return
• Last price: RM0.785
• Target price: RM0.955, RM0.995
• Support: RM0.735
• Stop-loss: RM0.73

BUY with a target price of RM0.995 and stop-loss at RM0.73. An ascending triangle pattern was spotted on the daily chart which indicates a bullish continuation pattern. Yesterday, EONM managed to hit the breakout level of RM0.805 on higher trading volume but closed lower at RM0.785. We expect the stock will continue the bullish movement towards our targets at RM0.955 and RM0.995, supported by an uptick in the RSI and a bullish crossover in both the MACD and the DMI indicators.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 8 Aug 2017