• Technical BUY with +31.7% potential return
• Last price : RM0.52
• Target price : RM0.645, RM0.685
• Support : RM0.46
• Stop-loss: RM0.455

BUY with a target price of RM0.685 and stop-loss at RM0.455. On last Friday’s trading activity, share price managed to penetrate the breakout level of RM0.515 and we expect SAUD to continue the upwards movement afterwards. This bullish movement is supported by the DMI that is currently showing positive signals. This is also consistent with the uptick in the RSI which suggests stronger buying momentum ahead. We peg our targets based on 1.38x and 1.61x Fibonacci Extension level at RM0.645 and RM0.685.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 13 Nov 2017