Renewed buying interest emerges in BSL Corp, says AllianceDBS Research

Renewed buying interest emerges in BSL Corp, says AllianceDBS Research

Renewed buying interest emerges in BSL Corp, says AllianceDBS Research

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KUALA LUMPUR (June 13): AllianceDBS Research said BSL Corporation Bhd (BSLCorp) had on June 9 traded higher to 60 sen before settling near the day’s high at 59 sen (up 7 sen or 13.46%).

In its evening edition last Friday, the research house said a crossover of the 60 sen hurdle would likely see BSLCorp trading upward with the next upside target pegged between 75 sen and 85 sen.

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

“Once a buying position is established, a stop loss at 55 sen level must be placed for risk capital protection, and this 55 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 RM180 – RM280 potential profit, you may acquire 1,000 shares with a capital amount of RM570 assuming buying order is filled at 57 sen,” it said.