BUY with a target price of RM3.81 and stoploss at RM2.99. Based on the daily chart, share price has recovered gradually and moved above the 7- and 21-day EMAs following yesterday’s spike to close above the breakout level of RM3.21. This is supported by an uptick in the RSI as well as bullish crossovers in both the MACD and DMI, indicating positive momentum We peg our targets at RM3.49 and RM3.81 in the near term.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 19 Jul 2018
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