• Technical BUY with +14.0% potential return
• Last price: RM1.72
• Target price: RM1.89, RM1.96
• Support: RM1.60
• Stop-loss: RM1.59

BUY with a target price of RM1.96 and stop-loss at RM1.59. A buying signal is seen as the stock has been trading above the Ichimoku cloud. This is supported by the intercrossing of Heat Wave indicators (the Tenkan-sen line, Kinjun-sen line and Chikao span line), which suggests a bullish signal. An uptick in the RSI suggests buying momentum is set to continue in the near term. Currently, the DMI is showing a bullish crossover to support the upward momentum. We peg our targets at RM1.89 and RM1.96 in the near to medium term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 23 Oct 2017