BUY on breakout with a target price of RM0.675 and stop-loss at RM0.345. Following the earlier correction, share price has rebounded and moved above the BBI line, implying that the recent correction is over. The steady incline in the RSI points to a gradual rise in momentum. This is supported by positive readings in the DMI. As such, we expect the upward trend to be sustainable, and thus peg our upside targets at RM0.57 and RM0.675 once it penetrates the breakout level of RM0.43.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 25 Aug 2017
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