BUY with a target price of RM2.27 and stoploss at RM1.94. Based on the daily chart, MCH exited the consolidation phase last Friday after moving above the BBI line. This is supported by an uptick in the RSI which suggests buying momentum is set to continue in the near term. Currently, both the MACD and the DMI are on a bullish crossover. We expect the stock to continue trending up towards the previous high of RM2.28 in the near term.
Expected Timeframe: 2 weeks to 2 months.
Source: UOB Kay Hian Research - 24 Jul 2018
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