• Technical BUY on breakout with +10.8% potential return
• Last price: RM1.37
• Target price: RM1.48, RM1.54
• Support: RM1.32
• Stop-loss: RM1.31

BUY on breakout with a target price of RM1.54 and stop-loss at RM1.31. Based on the daily Ichimoku chart, the stock continues to form higher highs and higher lows, a key characteristic of an uptrend pattern. The buying signal remains intact as share price has remained above the cloud and is supported by the Heat Wave indicators – the Tenkan-sen line, the Kinjun-sen line and the Chikao span line – which are showing bullish signals. Currently MACD is on the verge of forming a golden cross to the positive signal. We peg our targets at RM1.48 and RM1.54.

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 11 Aug 2017