• Technical BUY on breakout with +18.9% potential return
• Last price: RM1.08
• Target price: RM1.23, RM1.32
• Support: RM1.00
• Stop-loss: RM0.995

BUY on breakout with a target price of RM1.32 and stop-loss at RM0.995. We expect a positive follow-through to validate a new up-leg if EUPE penetrates above the breakout level of RM1.11. This is supported by an uptick in RSI. The rising momentum as shown by a bullish crossover in the EMA 7 and 21 along with an uptick in both the +DI and ADX lines suggest upward continuation from hereon. We peg our targets at RM1.23 and RM1.32 in the near term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 26 Sept 2017