Coastal in a position to trade higher, says AllianceDBS Research

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KUALA LUMPUR (April 22): A crossover of the RM3.10 hurdle would likely see Coastal Contracts Bhd trading upward with the next upside target pegged between RM3.25 – RM3.30, according to AllianceDBS Research.

In its evening edition Tuesday, the research house said risk taking traders could establish a buying position at RM2.99 on a small pullback.

“Once a buying position is established, a stop loss at RM2.96 level must be placed for risk capital protection, and this RM2.96 is to be followed by a trailing stop loss strategy.

“If you are prepared to take a trading loss risk of RM30 (excluding brokerage) for RM260 – RM310 potential profit, you may acquire 1,000 shares with a capital amount of RM2,990 assuming buying order is filled at RM2.99,” it said.