Brem in position to trade higher, says AllianceDBS Research

Brem in position to trade higher, says AllianceDBS Research

Brem in position to trade higher, says AllianceDBS Research

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KUALA LUMPUR (June 9): AllianceDBS Research said Brem Holding Bhd (Brem) had on June 8 traded higher to 97 sen before settling near the day’s high at 96.5 sen (up 1.5 sen or 1.57%).

In its evening edition yesterday, the research house said a crossover of the 97.5 sen hurdle would likely see Brem trading upward with the next upside target pegged between RM1.01 and RM1.03.

It said risk taking traders can establish a buying position at 95.5 sen on a small pullback.

“Once a buying position is established, a stop loss at 94.5 sen level must be placed for risk capital protection, and this 94.5 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 RM55 – RM75 potential profit, you may acquire 1,000 shares with a capital amount of RM955 assuming buying order is filled at 95.5 sen,” it said.