BUY on breakout with a target price of RM0.06 and stop-loss at RM0.02. Based on the daily chart, YFG formed a breakaway gap and closed higher at RM0.035 on Tuesday. We expect YFG will continue the bullish movement once it breaks out of RM0.045. This is supported by an uptick in the RSI and bullish crossover in the MACD and the DMI. We expect the stock to continue moving towards our targets at RM0.05 and RM0.06 in the near term.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 19 Oct 2017
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