Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (April 16): Shares of SBC Corporation Bhd rose more than 8% in early trade today on resurgent buying interest.

At 9.23am, SBC Corp was up 8.l6% or 8 sen to RM1.06 with 108,410 shares traded.

SBC Corp is an investment holding company, and through its subsidiaries, provides contractor services for general building and civil engineering works; operates in property development and investment; manufactures plastic building materials, material handling equipment, and metal frames; and provides mechanical and electrical installation.

AllianceDBS Research in its evening edition yesterday said SBC Corp had on April 15 crossed over the 98 sen hurdle to reach a high of RM1.00 before settling at 98 sen (+RM0.03, +3.15%).

The research house said the next potential immediate upside target was a crossover of the 98 sen hurdle again would likely see SBC Corp trading upward with the next upside target pegged between RM1.07 and RM1.12.

The research house said risk taking traders can establish a buying position at 96.5 sen on a small pullback.

“Stop Loss Level : Once a buying position is established, a stop loss at 95.5 sen level must be placed for risk capital protection, and this 95.5  sen was to be followed by a trailing stop loss strategy.

“What Trading Strategy Can Be Taken : If you are prepared to take a trading loss risk of RM10 (excluding brokerage) for RM105 – RM155 potential profit, you may acquire 1,000 shares with a capital amount of RM965 assuming buying order is filled at 96.5 sen,” it said.

      Print
      Text Size
      Share