• Technical BUY on breakout with +18.5% potential return
• Last price : RM0.70
• Target price : RM0.81, RM0.865
• Support : RM0.67
• Stop-loss: RM0.665

BUY on breakout with a target price of RM0.865 and stop-loss at RM0.665. Based on the daily chart, HALG has formed higher highs and higher lows towards the breakout level of RM0.73. We expect HALG will continue in the uptrend if it can penetrate above RM0.73. This is supported by an uptick in the RSI. Currently, both the MACD and DMI indicators are showing positive signal to support the upward momentum. We peg our targets at RM0.81 and RM0.865 in the near term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 16 Nov 2017