Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR (March 31): AllianceDBS Research said Sedania Innovator Bhd (Sedania) had on March 30 gapped up to cross over the 44 sen hurdle.

In its evening edition yesterday, the research house said the stock subsequently reached a high of 46 sen before settling near the day’s high at 45.5 sen (up 3.5 sen or 8.33%).

The research house said the crossover of the 44 sen hurdle would likely see Sedania trading upward with the next upside target pegged between 48 sen and 51 sen.

It said risk taking traders could establish a buying position at 44.5 sen on a small pullback.

“Once a buying position is established, a stop loss at 43.5 sen level must be placed for risk capital protection, and this 43.5 sen is to be followed by a trailing stop loss strategy.

“If you are prepared to take a trading loss risk of RM10 (excluding brokerage) for RM35 – RM65 potential profit, you may acquire 1,000 shares with a capital amount of RM445 assuming buying order is filled at 44.5 sen,” it said.

      Print
      Text Size
      Share