BUY with a target price of RM0.87 and stop-loss at RM0.595. Based on the daily chart, the share price managed to penetrate the breakout level of RM0.68 yesterday to keep the bullish momentum towards the all-time high of RM0.75. This is supported by an uptick in the RSI and DMI, which show that buying pressure has overcome selling pressure. We peg our targets based on 1.38x and 1.61x Fibonacci Extension levels at RM0.825 and RM0.87.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 10 Nov 2017
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