Euro in position to trade higher, says AllianceDBS Research

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Euro_Reuters

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KUALA LUMPUR (July 6): AllianceDBS Research said Euro Holdings Bhd (Euro) was in position to trade higher and that Euro had on July 3 crossed over the 68 sen hurdle to reach an intraday high of 70 sen before settling at 67.5 sen (up 2.5 sen or 3.84%).

In its evening edition last Friday, the research house said a crossover of the 68 sen hurdle again would likely see Euro trading upward with the next upside target pegged between 74.5 sen and 80 sen.

AllianceDBS Research said risk taking traders could establish a buying position at 66.5 sen on a small pullback.

“Once a buying position is established, a stop loss at 64.5 sen level must be placed for risk capital protection, and this 64.5 sen 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 RM80 – RM135 potential profit, you may acquire 1,000 shares with a capital amount of RM665 assuming buying order is filled at 66.5 sen,” it said.