Muda in position to trade higher, says AllianceDBS Research

-A +A

KUALA LUMPUR (Sept 19): AllianceDBS Research said Muda Holdings Bhd (Muda) had on Sept 18 crossed over the RM1.56 hurdle to reach a high of RM1.62 before settling at RM1.59  (up 4 sen or 2.58%).

In its evening edition Sept 18, the research house said the crossover of the RM1.56 hurdle would likely see Muda trading upward with the next upside target pegged between RM1.67 and RM1.70.

It said risk taking traders can establish a buying position at RM1.57 on a small pullback.

“Once a buying position is established, a stop loss at RM1.55 level must be placed for risk capital protection, and this RM1.55 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 RM100 – RM130 potential profit, you may acquire 1,000 shares with a capital amount of RM1,570 assuming buying order is filled at RM1.57,” it said.