Comfort Gloves (CG MK)

Technical BUY on breakout with +30.8% potential return Last price: RM0.91 Target price: RM1.12, RM1.21 Support: RM0.80 Stop-loss: RM0.795 BUY on breakout with a target price of RM1.21 and stop-loss at RM0.795. The breakout above the RM0.455 level coupled with a positive close above the MACD shows further upside ahead. The rising momentum as shown by a bullish crossover in the EMA- 7 and -21 along with an uptick in both the +DI and ADX lines suggest an upward continuation. We peg our targets at RM1.12 and RM1.21 if the stock breaks out from RM0.925.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 2 Aug 2018