KUALA LUMPUR (May 30): Hong Leong IB Research said Gabungan AQRS Bhd is in a good position to secure future jobs, leveraging its tie-ups with Suria Capital (Sabah’s GLC-linked) and Tanah Makmur (major shareholders is Pahang’s Crown Price Tengku Abdullah).
In a trading idea note today, the research house said that following its recent strong rebound from year-to-date low of 78 sen (Jan 21), the stock is ripe again to launch another wave of uptrend to stage a breakout above the long term downtrend line of RM1.00 soon.
“A decisive breakout above RM1.00 will lead share prices to retest RM1.04-RM1.12 territory.
“Supports are 90 sen-91 sen. Cut loss at 89 sen,” it said.