• Technical BUY on breakout with +19.0% potential return
• Last price: RM1.20
• Target price: RM1.38, RM1.44
• Support: RM1.10
• Stop-loss: RM1.09

BUY on breakout with a target price of RM1.44 and stop-loss at RM1.09. Based on the daily chart, ASTI has formed a strong base at RM1.10 after dropping from the all-time high of RM1.29. The chart shows that the uptrend will continue if the stock penetrates the RM1.21 level. Currently, both the MACD and the DMI indicators show a positive crossover to support the upward momentum. This is supported by an uptick in the RSI. We peg our targets based on 1.38x and 1.61x Fibonacci Extension levels at RM1.38 and RM1.44 respectively.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 19 Sept 2017