Renewed buying interest in Prinsiptek, says AllianceDBS Research

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KUALA LUMPUR (May 18): AllianceDBS Research said there was renewed buying interest in Prinsiptek Corporation Bhd and said Prinsiptek had on May 15 traded higher to settle at the day’s high of 20 sen (up 1.5 sen or 8.10%).

In ite evening edition last Friday, the research house said a crossover of the 20 sen hurdle would likely see Prinsiptek trading upward with the next upside target pegged between 24 sen and 26 sen.

“Risk taking traders can establish a buying position at 19.5 sen on a small pullback.

“Once a buying position is established, a stop loss at 18.5 sen level must be placed for risk capital protection, and this 18.5 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 RM45 – RM65 potential profit, you may acquire 1,000 shares with a capital amount of RM195 assuming buying order is filled at 19.5 sen,” it said.