• Technical BUY on breakout with +27.9% potential return
• Last price: RM1.09
• Target price: RM1.29, RM1.42
• Support: RM1.01
• Stop-loss: RM0.995

BUY on breakout with a target price of RM1.42 and stop-loss at RM0.995. After the earlier correction from the previous high, the share price has rebounded and risen above the BBI line, which implies the correction has ended. A positive closing above the BBI line yesterday was accompanied by a bullish crossover in the DMI, which indicates buying momentum has overcome selling momentum. This is also supported by an uptick in RSI. We peg our targets at RM1.29 and RM1.42 once it manages to penetrate the breakout level of RM1.11.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 24 Aug 2017