BUY on breakout with a target price of RM0.695 and stop-loss at RM0.345. Based on the daily chart, DATA formed series of higher highs and higher lows toward the breakout level of RM0.46. Backed by surging trading volume and positive momentum, there should be an upward follow-through from here onwards. Furthermore, an uptick in RSI and bullish crossover in DMI and MACD imply a stronger upward move ahead. We peg our targets at RM0.61 and RM0.695 in the near to medium term.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 14 Sept 2017
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