BUY on breakout with a target price of RM0.61 and stop-loss at RM0.385. Based on the daily chart, the stock has plunged to a low of RM0.385 in the last few days and is making a strong ascent in the current upleg. The positive readings of the MACD and the DMI suggest buying momentum will remain robust in the near term. Our immediate target prices are RM0.565 and RM0.61 if the share price manages to penetrate the breakout level of RM0.465.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 17 Aug 2017
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