Technical BUY with +21.6% potential return Last price: RM1.39 Target price: RM1.59, RM1.69 Support: RM1.29 Stop-loss: RM1.28 BUY with a target price of RM1.79 and stoploss at RM1.28. A successful closing above the BBI line on the back of higher trading volume suggests improving sentiment as SDPR looks set to resume the upward movement. Based on yesterday’s movement, the stock managed to break out from the BBI line level to form a higher high towards the immediate resistance of RM1.61. Currently, both the MACD and the DMI show positive signals to support the upward momentum. We peg our targets at RM1.59 and RM1.69 in the near and medium term.
Expected Timeframe: 2 weeks to 2 months.
Source: UOB Kay Hian Research - 2 Aug 2018
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