• Technical BUY on breakout with +12.0% potential return
• Last price: RM2.86
• Target price: RM3.14, RM3.26
• Support: RM2.76
• Stop-loss: RM2.74

BUY on breakout with a target price of RM3.26 and stop-loss at RM2.74. . Based on the daily chart, MUHI has formed a higher high and higher low towards the breakout level at RM2.91. If the stock manages to penetrate the breakout level of RM2.91, it will continue to move towards our targets of RM3.14 and RM3.26 in the near term. The bullish bias has been established following an uptick in RSI and bullish crossover in DMI and MACD.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 23 Aug 2017