MNRB in position to test higher, says AllianceDBS Research

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KUALA LUMPUR (Aug 23): AllianceDBS Research said MNRB Holdings Bhd (MNRB) had on Aug 22 traded higher to RM1.10 before settling at RM1.09 (up 4 sen or 3.81%).

In its evening edition Aug 22, the research house said a crossover of the RM1.10 hurdle would likely see MNRB trading upward with the next upside target pegged between RM1.17 and RM1.27.

It said risk taking traders can establish a buying position at RM1.07 on a small pullback.

“Once a buying position is established, a stop loss at RM1.06 level must be placed for risk capital protection, and this RM1.06 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 RM100 – RM200 potential profit, you may acquire 1,000 shares with a capital amount of RM1,070 assuming buying order is filled at RM1.07,” it said.