• Technical BUY on breakout with +23.9% potential return
• Last price : RM0.755
• Target price : RM0.935, RM0.985
• Support : RM0.705
• Stop-loss: RM0.695

BUY on breakout with a target price of RM0.985 and stop-loss at RM0.695. Based on the daily chart, share price has since consolidated and yesterday’s closing placed OCP in new territory, suggesting renewed buying interest, which in our view will establish a new up-leg. This is supported by the MACD and DMI, which are both currently on a bullish crossover. We peg our targets at RM0.935 and RM0.985 once it manages to penetrate the breakout level of RM0.795 in the near term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 15 Nov 2017