BUY with a target price of RM1.97 and stop-loss at RM1.57. Based on the daily chart, the share price managed to penetrate the breakout level of RM1.71 and close above the BBI line to maintain the bullish momentum towards its previous resistance. This is supported by the DMI’s bullish crossover and is consistent with the uptick in the RSI which suggests stronger buying momentum ahead. We peg our targets at RM1.89 and RM1.97 respectively in the short term to medium term.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 5 Sept 2017
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