UOB Kay Hian Research Articles
Traders' Corner - Salcon (SALC MK)
UOBKayHian
Publish date: Mon, 23 Oct 2017, 10:03 AM
UOBKayHian
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An official blog in I3investor to publish research reports provided by UOB Kay Hian research team.
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
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All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
- Technical BUY on breakout with +32.6% potential return
- Last price: RM0.425
- Target price: RM0.525, RM0.59
- Support: RM0.40
- Stop-loss: RM0.395
BUY on breakout with a target price of RM0.59 and stop-loss at RM0.395. A bullish crossover from the MACD could lift share price while a closing above RM0.445 should create a base for the new up-leg. Moving forward, we expect SALC to move higher and retest the resistance of RM0.595. This is supported by an uptick in the RSI and bullish crossover in MACD and DMI.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 23 Oct 2017
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