KUALA LUMPUR (April 18): AllianceDBS Research said renewed buying interest had emerged in Ho Hup Construction Co Bhd (HoHup) and that HoHup had on April 15 crossed over the 91 sen hurdle to reach a high of 92.5 sen before settling at 91 sen  (up 2 sen or 2.24%).

In its evening edition last Friday, the research house said the crossover of the 91 sen hurdle would likely see HoHup trading upward with the next upside target pegged between 96.5 sen and RM1.00.

It said risk taking traders can establish a buying position at 90 sen on a small pullback.

“Once a buying position is established, a stop loss at 88.5 sen level must be placed for risk capital protection, and this 88.5 sen is to be followed by a trailing stop loss strategy.

“If you are prepared to take a trading loss risk of RM15 (excluding brokerage) for RM65 – RM100 potential profit, you may acquire 1,000 shares with a capital amount of RM900 assuming buying order is filled at 90 sen,” it said.