BUY with a target price of RM0.585 and stop-loss at RM0.395. Based on the daily chart, BHB managed to penetrate the breakout level of RM0.44 with higher trading volume but closed lower at RM0.435. This is supported by an uptick in RSI and bullish crossover in both the MACD and DMI indicators. We peg our targets at RM0.545 and RM0.585 in the near to medium term.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 25 Aug 2017
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