DRB-HICOM may consolidate with an upward bias after breaching a resistance line in its recent session. The bullish bias may be enhanced if it sustains above the MYR1.27 level in the immediate term, with a target price of MYR1.44. In the event the buying interest does not gain momentum, we expect it to resume its consolidation with support anticipated at MYR1.13, whereby traders may exit to avoid the risk of a further correction.

Trading Call: Buy on improved bullish bias above MYR1.27 Target: MYR1.44 (time frame: 1-2 months) Exit: MYR1.13

Source: AmInvestment Research - 8 Feb 2017