• Technical BUY on breakout with +21.5% potential return
• Last price: RM1.41
• Target price: RM1.72, RM1.81
• Support: RM1.35
• Stop-loss: RM1.34

BUY on breakout with a target price of RM1.81 and stop-loss at RM1.34. Based on the daily chart, IWCB formed a series of higher highs and higher lows that indicates the uptrend pattern. Yesterday’s gain was also accompanied by high trading volume. The rising RSI and DMI indicators imply the positive momentum will strengthen in the near term. We peg our targets at RM1.72 and RM1.81 once the stock penetrates above the breakout level of RM1.49.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 27 Oct 2017