BUY on breakout with a target price of RM0.245 and stop-loss at RM0.155. On last Tuesday’s movement, the stock closed above the BBI line, indicating upward potential in the near term. This is supported by the 7-day EMA crossing above with the 21-day EMA indicating a bullish signal. This is consistent with the uptick in the RSI and DMI, which suggest stronger buying momentum ahead. We peg our target prices at RM0.225 and RM0.245 once the stock penetrates the breakout level of RM0.19.
Expected Timeframe: 2 weeks to 3 months
Source: UOB Kay Hian Research - 19 Oct 2017
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