• Technical BUY on breakout with +19.2% potential return
• Last price: RM0.805
• Target price: RM0.945, RM0.995
• Support: RM0.75
• Stop-loss: RM0.745

BUY on breakout with a target price of RM0.995 and stop-loss at RM0.745. Based on the daily chart, we can see MBC tried to penetrate the breakout level at RM0.835 and managed to close above the BBI line yesterday. Aggressive traders can buy at the breakout level of RM0.835 and set the short-term target at RM0.945. Currently, the DMI shows buying momentum has overcome selling momentum. This is supported by an uptick in the RSI, indicating that positive momentum would strengthen in the near term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 8 Sept 2017