• Technical BUY on breakout with +20.2% potential return
• Last price: RM1.16
• Target price: RM1.32, RM1.43
• Support: RM1.09
• Stop-loss: RM1.08

BUY on breakout with a target price of RM1.43 and stop-loss at RM1.08. Currently, CLH’s share price consolidated within the immediate support of RM1.09 before last Friday’s positive closing above the BBI to set a new tone for the short-term outlook. We expect CLH to continue on the upward movement towards our targets at RM1.32 and RM1.43 once it penetrates the breakout level of RM1.19. The bullish bias has been established following an uptick in the RSI and bullish crossover in both the DMI and MACD.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 25 Sept 2017