• Technical BUY on breakout with +22.1% potential return
• Last price: RM0.595
• Target price: RM0.715, RM0.745
• Support: RM0.55
• Stop-loss: RM0.545

BUY on breakout with a target price of RM0.745 and stop-loss at RM0.545. A successful closing above the BBI line on yesterday’s movement suggests improving sentiment as REX looks set to resume the upward movement. This is supported by an uptick in the RSI. The DMI is showing a bullish crossover, which will support the upward momentum. We expect REX to continue the upward movement to our targets at RM0.715 and RM0.745 once it manages to penetrate above the breakout level of RM0.61.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 15 Nov 2017