KUALA LUMPUR (Aug 9): Thriven Global Bhd (Thriven) rose 1.11% this morning on renewed buying interest in the stock.

At 9.30am, Thriven rose 0.5 sen to 45.5 sen with 533,200 shares done. The stock had earlier risen to a high of 46 sen.

AllianceDBS Research said Thriven had on Aug 8 crossed over the 45 sen hurdle to reach an intraday high of 47.5 sen before settling at 45 sen (up 1 sen or 2.27%).

In its evening edition Wednesday, the research house said a crossover of the 45 sen hurdle again would likely see Thriven trading upward with the next upside target pegged between 52 sen and 55 sen.

It said risk taking traders can establish a buying position at 44 sen on a small pullback.

“Once a buying position is established, a stop loss at 43 sen level must be placed for risk capital protection, and this 43 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 – RM110 potential profit, you may acquire 1,000 shares with a capital amount of RM440 assuming buying order is filled at 44 sen,”it said.