KUALA LUMPUR (Sept 14): Sapura Energy Bhd (Sapnrg) shares rose 5.62% in active trade this morning following a positive technical outlook on the stock.

At 9.25am, Sapnrg rose 2.5 sen to 47 sen with 128.23 million shares done.

AllianceDBS Research said Sapnrg had on Sept 13 gapped up to cross over the 42.5 sen hurdle.

In its evening edition yesterday, the research house said the stock subsequently settled at the day’s high of 44.5 sen (up 9 sen or 25.3%).

It said the crossover of the 42.5 sen hurdle again would likely see Sapnrg trading upward with the next upside target pegged at 48 sen.

“Risk taking traders can establish a buying position at 42 sen on a small pullback.

“Once a buying position is established, a stop loss at 39.5 sen level must be placed for risk capital protection, and this 39.5 sen is to be followed by a trailing stop loss strategy.

“If you are prepared to take a trading loss risk of RM25 (excluding brokerage) for RM60 potential profit, you may acquire 1,000 shares with a capital amount of RM420 assuming buying order is filled at 42 sen,” it said.