• Technical BUY on breakout with +29.1% potential return
• Last price: RM1.14
• Target price: RM1.36, RM1.51
• Support: RM1.06
• Stop-loss: RM1.04

BUY on breakout with a target price of RM1.51 and stop-loss at RM1.04. The share price consolidated within the immediate support of RM1.06 before yesterday’s positive closing above the BBI which is looking to set a new tone for the short-term outlook. We expect EKO to continue making higher highs and higher lows if it penetrates the breakout level at RM1.17. The bullish bias has been established following an uptick in the RSI and a bullish crossover in the DMI. We peg our targets at RM1.36 and RM1.51 in near to medium term.

Expected Timeframe: 2 weeks to 3 months

Source: UOB Kay Hian Research - 18 Aug 2017