• Technical BUY on breakout with +20.5% potential return
• Last price: RM0.645
• Target price: RM0.745, RM0.795
• Support: RM0.60
• Stop-loss: RM0.595

BUY on breakout with a target price of RM0.795 and stop-loss at RM0.595. Based on the daily chart, FIBON managed to climb up from the low of RM0.55 to retrace its recent loss. This is supported by an uptick in the RSI on higher trading volume yesterday. This bullish signal is also supported by the MACD and the DMI which are currently on a bullish crossover. We expect the stock to continue to move up towards our targets at RM0.745 and RM0.795 in the near term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 13 Sept 2017