• Technical BUY with +20.3% potential return
• Last price: RM0.64
• Target price: RM0.725, RM0.77
• Support: RM0.58
• Stop-loss: RM0.575

BUY with a target price of RM0.77 and stop-loss at RM0.575. Based on the daily chart, TAE formed a breakaway gap and penetrated the breakout level to close higher at RM0.64 on yesterday’s movement. This is supported by the rising DMI and RSI indicators, which indicate that positive momentum, would strengthen in the near term. We expect the stock to continue the upward movement towards our targets at RM0.725 and RM0.77 in the near term

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 18 Aug 2017