JCY in position to trade higher, says AllianceDBS Research

JCY in position to trade higher, says AllianceDBS Research

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KUALA LUMPUR (March 7): AllianceDBS Research said JCY International Bhd (JCY) had on March 6 traded higher to 63 sen before settling at 62 sen (up 2 sen or 3.33%).

In its evening edition yesterday, the research house said a crossover of the 65.5 sen hurdle would likely see JCY trading upward with the next upside target pegged between 73 sen and 76 sen.

It said risk taking traders can establish a buying position at 61 sen on a small pullback.

“Once a buying position is established, a stop loss at 60 sen level must be placed for risk capital protection, and this 60 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 RM120 – RM150 potential profit, you may acquire 1,000 shares with a capital amount of RM610 assuming buying order is filled at 61 sen,” it said.