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Hot Stock Luxchem jumps 8.33% on renewed buying interest
by Cals Fri 14 Aug 2015, 18:45
Hot Stock
Luxchem jumps 8.33% on renewed buying interest
KUALA LUMPUR (Aug 14): Shares of [size=14]Luxchem Corporation Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) jumped 8.33% on renewed buying interest.
At 9.31am, Luxchem added 10 sen to RM1.30 with 1.65 million shares done.
In its evening edition yesterday, AllianceDBS Research said Luxchem had on August 13 crossed over the RM1.19 hurdle to reach a high of RM1.22 before settling near the day’s high at RM1.20 (up 6 sen or 5.26%).
The research house said the crossover of the RM1.19 hurdle would likely see Luxchem trading upward with the next upside target pegged between RM1.30 and RM1.50.
“Risk taking traders can establish a buying position at RM1.18 on a small pullback.
“Once a buying position is established, a stop loss at RM1.15 level must be placed for risk capital protection, and this RM1.15 is to be followed by a trailing stop loss strategy.
“If you are prepared to take a trading loss risk of RM30 (excluding brokerage) for RM120 – RM320 potential profit, you may acquire 1,000 shares with a capital amount of RM1,180 assuming buying order is filled at RM1.18,” it said.[/size]
Luxchem jumps 8.33% on renewed buying interest
KUALA LUMPUR (Aug 14): Shares of [size=14]Luxchem Corporation Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) jumped 8.33% on renewed buying interest.
At 9.31am, Luxchem added 10 sen to RM1.30 with 1.65 million shares done.
In its evening edition yesterday, AllianceDBS Research said Luxchem had on August 13 crossed over the RM1.19 hurdle to reach a high of RM1.22 before settling near the day’s high at RM1.20 (up 6 sen or 5.26%).
The research house said the crossover of the RM1.19 hurdle would likely see Luxchem trading upward with the next upside target pegged between RM1.30 and RM1.50.
“Risk taking traders can establish a buying position at RM1.18 on a small pullback.
“Once a buying position is established, a stop loss at RM1.15 level must be placed for risk capital protection, and this RM1.15 is to be followed by a trailing stop loss strategy.
“If you are prepared to take a trading loss risk of RM30 (excluding brokerage) for RM120 – RM320 potential profit, you may acquire 1,000 shares with a capital amount of RM1,180 assuming buying order is filled at RM1.18,” it said.[/size]
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