Renewed buying interest in Pesona, says AllianceDBS Research



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KUALA LUMPUR (July 6): AllianceDBS Research said renewed buying interest had emerged in Pesona Metro Holdings Bhd (Pesona) and that Pesona had on July 3 crossed over the 60 sen hurdle to reach a day’s high of 61.5 sen before settling at 60.5 sen (up 2.5 sen or 4.31%).

In its evening edition last Friday, the research house said a crossover of the 62 sen hurdle would likely see Pesona trading upward with the next upside target pegged between 67.5 sen and 70 sen.

AllianceDBS Research said risk taking traders could establish a buying position at RM0.595 on a small pullback.

“Once a buying position is established, a stop loss at 58.5 sen level must be placed for risk capital protection, and this 58.5 sen 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 RM80 – RM105 potential profit, you may acquire 1,000 shares with a capital amount of RM595 assuming buying order is filled at 59.5 sen,” it said.