BUY on breakout with a target price of RM0.595 and stop-loss at RM0.345. A breakout above RM0.43 would lead to a retest of the immediate resistance of RM0.545 in the near term. Positive readings of the RSI also suggest the presence of fresh buying interest. This is supported by a bullish crossover in the MACD and the DMI. Thus, we expect the stock to advance to our targets at RM0.54 and RM0.595 in the near to medium term.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 17 Nov 2017
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