KUALA LUMPUR (March 18): AllianceDBS Research said renewed buying interest had emerged in Sarawak Cable Bhd (SCable) and that SCable had on March 17 tested the RM1.69 hurdle before settling at the day’s low of RM1.65 (up 1 sen or 0.61%).

In its evening edition yesterday, the research house said a crossover of the RM1.69 hurdle would likely see SCable trading upward with the next upside target pegged between RM1.78 and RM1.85.

It said that risk taking traders could establish a buying position at RM1.63 on a small pullback.

“Once a buying position is established, a stop loss at RM1.61 level must be placed for risk capital protection, and this RM1.61 is to be followed by a trailing stop loss strategy.

“If you are prepared to take a trading loss risk of RM20 (excluding brokerage) for RM150 – RM220 potential profit, you may acquire 1,000 shares with a capital amount of RM1,630 assuming buying order is filled at RM1.63,” it said.