Friday 29 Mar 2024
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KUALA LUMPUR (Sept 21): AllianceDBS Research said Ideal United Bintang International Bhd (Ideal) had on Sept 20 crossed over the RM1.69 hurdle to reach a high of RM1.76 before settling at RM1.73 (up 10 sen or 6.13%).

In its evening edition yesterday, the research house said the crossover of the RM1.69 hurdle would likely see Ideal trading upward with the next upside target pegged between RM2.00 and RM2.10.

It said risk taking traders can establish a buying position at RM1.70 on a small pullback.

“Once a buying position is established, a stop loss at RM1.67 level must be placed for risk capital protection, and this RM1.67 is to be followed by a trailing stop loss strategy.

“If you are prepared to take a trading loss risk of RM30 (excluding brokerage) for RM300 – RM400 potential profit, you may acquire 1,000 shares with a capital amount of RM1,700 assuming buying order is filled at RM1.70,” it said.

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