BUY on breakout with a target price of RM0.67 and stop-loss at RM0.52. The successful close above the BBI line yesterday suggests improving sentiment as KHP looks set to resume the upward trend. This is supported by an uptick in the RSI. Currently, both the MACD and the DMI are showing positive signals, which will support the upward momentum. We peg our targets at RM0.635 and RM0.67 once it manages to penetrate the breakout level of RM0.57 in the near term.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 14 Sept 2017
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