BUY with a target price of RM1.91 and stop-loss at RM1.48. Based on the daily chart, MLG formed higher highs and higher lows that indicate an uptrend. A buying signal is seen as the stock has been trading above the Ichimoku cloud. This is supported by the Heat Wave indicators - the Tenkan-sen line, Kinjun-sen line and Chikao span line - which suggest a bullish signal. An uptick in the RSI suggests buying momentum is set to continue in the near term. Currently, the DMI is showing a bullish crossover to support the upward momentum.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 17 Nov 2017
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