• Technical BUY with +13.0% potential return
• Last price: RM1.23
• Target price: RM1.34, RM1.39
• Support: RM1.10
• Stop-loss: RM1.09

BUY with a target price of RM1.39 and stop-loss at RM1.09. Based on the daily chart, share price penetrated the breakout level of RM1.21 yesterday on higher trading volume. A buy signal has been given with the positive directional index (+DI) crossing above the negative directional index (-DI). The ADX line shows a positive uptrend at this level. This is supported by an uptick in the RSI and a bullish crossover in the MACD. We peg our targets at RM1.34 and RM1.39 in the near term.

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 10 Aug 2017