KUALA LUMPUR (July 5): AllianceDBS Research said renewed buying interest had emerged in Gabungan AQRS Bhd (AQRS) and that AQRS had on July 4 crossed over the RM1.03 hurdle to settle at the day’s high of RM1.04 (up 8.5 sen or 8.90%).
In its evening edition yesterday, the research house said the crossover of the RM1.03 hurdle would likely see AQRS trading upward with the next upside target pegged between RM1.10 and RM1.15.
It said risk taking traders could establish a buying position at RM1.01 on a small pullback.
“Once a buying position is established, a stop loss at 99 sen level must be placed for risk capital protection, and this 99 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 RM90 – RM140 potential profit, you may acquire 1,000 shares with a capital amount of RM1,010 assuming buying order is filled at RM1.01,” it said.