• Technical BUY with +16.8% potential return
• Last price: RM1.49
• Target price: RM1.61, RM1.74
• Support: RM1.38
• Stop-loss: RM1.37

BUY with a target price of RM1.74 and stop-loss at RM1.37. Last Friday’s gain can be considered a significant breakthrough as the breakout places share price in new territory. Backed by surging trading volumes and positive momentum, there should be an upward follow-through from here. Furthermore, an uptick in the RSI and the bullish crossover in the DMI and the MACD imply a stronger upward move ahead. We peg our targets at RM1.61 and RM1.37 in the near term.

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 30 Oct 2017