UOB Kay Hian Research Articles
Traders' Corner - Malayan United Industries (MUI MK)
UOBKayHian
Publish date: Thu, 07 Sep 2017, 10:01 AM
UOBKayHian
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An official blog in I3investor to publish research reports provided by UOB Kay Hian research team.
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
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All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
- Technical BUY on breakout with +32.4% potential return
- Last price: RM0.17
- Target price: RM0.225, RM0.275
- Support: RM0.145
- Stop-loss: RM0.14
BUY on breakout with a target price of RM0.275 and stop-loss at RM0.14. The breakout above the RM0.18 level coupled with a positive close above the MACD shows further upside ahead. This is supported by positive RSI readings and a bullish crossover in the DMI. With the immediate resistance target set at RM0.225, the stock is expected to resume its ascent towards the previous high of RM0.28.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 7 Sept 2017
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