UOB Kay Hian Research Articles

Traders' Corner - Malaysia Marine & Heavy Engineering Holdings (MMHE MK)

UOBKayHian
Publish date: Thu, 21 Sep 2017, 10:00 AM
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An official blog in I3investor to publish research reports provided by UOB Kay Hian research team.

All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my

UOB Kay Hian Securities (M) Sdn Bhd (194990-K)

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Following Message

  • Technical BUY with +25.9% potential return
  • Last price: RM0.79
  • Target price: RM0.91, RM0.995
  • Support: RM0.715
  • Stop-loss: RM0.71

BUY with a target price of RM0.995 and stop-loss at RM0.71. Based on the daily chart, MMHE has just exited the consolidation phase yesterday after penetrating the breakout level of RM0.785 on higher trading volume. The uptick in the RSI and the increase in trading volumes suggest buying momentum is set to continue in the near term. We expect the stock to continue trending up towards our targets of RM0.91 and RM0.995 in the near to medium term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 21 Sept 2017

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