Renewed buying interest emerged in PBA, says AllianceDBS Research

Renewed buying interest emerged in PBA, says AllianceDBS Research

Renewed buying interest emerged in PBA, says AllianceDBS Research

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KUALA LUMPUR (Oct 5): AllianceDBS Research said PBA Holdings Bhd (PBA) had on Oct 4 traded higher to RM1.30 before settling at RM1.29 (up 2 sen or 1.57%).

In its evening edition yesterday, the research house said a crossover of the RM1.30 hurdle would likely see PBA trading upward with the next upside target pegged between RM1.36 and RM1.42.

It said risk taking traders can establish a buying position at RM1.27 on a small pullback.

“Once a buying position is established, a stop loss at RM1.26 level must be placed for risk capital protection, and this RM1.26 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 RM90 – RM150 potential profit, you may acquire 1,000 shares with a capital amount of RM1,270 assuming buying order is filled at RM1.27,” it said.