KUALA LUMPUR (Oct 13): AllianceDBS Research said renewed buying interest had emerged in Supermax Corporation Bhd and that Supermax had on Oct 12 crossed over the RM2.22 hurdle to a high of RM2.25 before settling at RM2.23 (up 5 sen or 2.29%).

In its evening edition yesterday, the research house said the crossover of the RM2.22 hurdle would likely see Supermax trading upward with the next upside target pegged between RM2.33 and RM2.60.

It said risk taking traders could establish a buying position at RM2.21 on a small pullback.

“Once a buying position is established, a stop loss at RM2.19 level must be placed for risk capital protection, and this RM2.19 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 RM120 – RM390 potential profit, you may acquire 1,000 shares with a capital amount of RM2,210 assuming buying order is filled at RM2.21,” it said.