• Technical BUY with +20.4% potential return
• Last price: RM1.03
• Target price: RM1.16, RM1.24
• Support: RM0.90
• Stop-loss: RM0.895

BUY with a target price of RM1.24 and stop-loss at RM0.895. The successful close above the BBI line last Friday suggests improving sentiment as MRC looks set to resume the uptrend. This is supported by an uptick in the RSI. Currently, both the MACD and the DMI are showing positive signals, which will support the upward momentum. We peg our targets at RM1.16 and RM1.24 in the near term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 30 Oct 2017