KUALA LUMPUR (Aug 15): AllianceDBS Research said JCY International Bhd (JCY) had on Aug 14 traded higher to 32 sen before settling near the day’s high at 31.5 sen (up 2 sen or 6.78%).
In its evening edition yesterday, the research house said a crossover of the 33.5 sen hurdle would likely see JCY trading upward with the next upside target pegged between RM0.35 and 36 sen.
It said risk taking traders can establish a buying position at 30.5 sen on a small pullback.
“Once a buying position is established, a stop loss at 30 sen level must be placed for risk capital protection, and this 30 sen is to be followed by a trailing stop loss strategy.
“If you are prepared to take a trading loss risk of RM5 (excluding brokerage) for RM45 – RM55 potential profit, you may acquire 1,000 shares with a capital amount of RM305 assuming buying order is filled at 30.5 sen,” it said.