• Technical BUY on breakout with +20.9% potential return
• Last price: RM0.925
• Target price: RM1.07, RM1.13
• Support: RM0.89
• Stop-loss: RM0.885

BUY on breakout with a target price of RM1.13 and stop-loss at RM0.885. Based on the daily chart, share price has recovered from the strong support region at RM0.89 to close higher at RM0.925 yesterday. Additionally, positive readings in the RSI and the DMI should boost share price higher as PSN looks set to resume its bullish movement towards the all-time high of RM0.985. We peg our targets based on 1.38x and 1.61x Fibonacci Extension level at RM1.07 and RM1.13 in the near to medium term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 11 Aug 2017