BUY on breakout with a target price of RM3.04 and stop-loss at RM2.29. Based on the daily chart, share price is recovering gradually and moving above the 7- and 21- day EMA following yesterday’s spike. This is supported by the rising DMI and RSI indicators, indicating positive momentum would strengthen in the near term. Currently, the MACD is in a bullish crossover mode. We peg our targets at RM2.89 and RM3.04 in the medium term.
Expected Timeframe: 2 weeks to 3 months
Source: UOB Kay Hian Research - 17 Aug 2017
Chart | Stock Name | Last | Change | Volume |
---|
Created by UOBKayHian | Aug 26, 2022
Created by UOBKayHian | Feb 24, 2022
Created by UOBKayHian | Dec 13, 2021
Created by UOBKayHian | Jul 12, 2021
Created by UOBKayHian | Jan 29, 2020