• Technical BUY on breakout with +18.9% potential return
• Last price: RM1.56
• Target price: RM1.79, RM1.89
• Support: RM1.44
• Stop-loss: RM1.43

BUY on breakout with a target price of RM1.89 and stop-loss at RM1.43. On yesterday’s movement, the stock closed at RM1.56, which is above the BBI line. Currently, the 7-day EMA is crossing above the 21-day EMA, which provided for a bullish signal. This is consistent with the uptick in the RSI and bullish crossover in the DMI, which suggest stronger buying momentum ahead. Currently, the MACD is on the verge of making a golden cross to the positive signal. We peg our target prices at RM1.79 and RM1.89 respectively in the near to medium term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 8 Sept 2017