• Recent BPURI’s s hare price caught our attention as we saw multiple strong buy signals:
  • On hourly chart, “Dragonfly” candles tick in the region of “Pos itive Divergence” pattern triggered sign of reversal to upside;
  • On daily chart, “Dragonfly” candles tick in the overs old zone als o s ugges ted potential reversal to upside; and
  • Daily oscillators (MACD, RSI, and Slow Stochastics) showed that buying momentum is picking up pace.
• Hence, we are of the view that share price is likely to bottom out and targeting RM0.40 (200-h or 30-d SMA), RM0.43 (50-d SMA) and RM0.47. However, always prepared to set cut loss if situation changes. Support at RM0.365 (10-d SMA) with cut loss below RM0.35.

Source: Hong Leong Investment Bank Research - 18 Sep 2015