KUALA LUMPUR (July 7): AllianceDBS Research said Zhulian Corp Bhd (Zhulian) had on July 6 crossed over the RM1.22 hurdle to settle at the day’s high of RM1.24 (up 0.5 sen or 4.20%).

In its evening edition July 6, the research house said the crossover of the RM1.22 hurdle would likely see Zhulian trading upward with the next upside target pegged between RM1.35 and RM1.40.

It said risk taking traders can establish a buying position at RM1.22 on a small pullback.

“Once a buying position is established, a stop loss at RM1.21 level must be placed for risk capital protection, and this RM1.21 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 RM130 – RM180 potential profit, you may acquire 1,000 shares with a capital amount of RM1,220 assuming buying order is filled at RM1.22,” it said.