UOB Kay Hian Research Articles

Traders' Corner - Boilermech Holdings (BMHB MK)

UOBKayHian
Publish date: Thu, 09 Nov 2017, 12:22 PM
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Following Message

  • Technical BUY on breakout with +17.5% potential return
  • Last price: RM0.86
  • Target price: RM0.995, RM1.04
  • Support: RM0.83
  • Stop-loss: RM0.825

BUY on breakout with a target price of RM1.04 and stop-loss at RM0.825. . Based on the daily chart, BMHB tried to penetrate the breakout level at RM0.885 and managed to close above the BBI line yesterday. Aggressive traders can buy at the breakout level of RM0.885 and set the short-term target at RM0.995. Currently, the DMI shows buying momentum has overcome selling momentum. This is supported by an uptick in the RSI, indicating the positive momentum will strengthen in the near term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 9 Nov 2017

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