• Technical BUY on breakout with +23.0% potential return
• Last price: RM0.545
• Target price: RM0.645, RM0.695
• Support: RM0.50
• Stop-loss: RM0.495

BUY on breakout with a target price of RM0.695 and stop-loss at RM0.495. Based on the daily chart, NTPM has started to form a series of higher highs and higher lows after a few months in consolidation mode. The positive readings from the RSI and MACD suggest the overall bullish bias is intact. Currently, DMI is on the verge of making a golden cross to a positive signal. A positive closing above RM0.565 should constitute a breakout and could catapult NTPM to our targets of RM0.645 and RM0.695 in the near term.

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 12 Jul 2018