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Hot Stock UEMS jumps 7.61% on renewed buying interest
by Cals Fri 11 Sep 2015, 20:16
- Hot Stock
[size=28]UEMS jumps 7.61% on renewed buying interest
By Surin Murugiah / theedgemarkets.com | September 11, 2015 : 10:31 AM MYTKUALA LUMPUR (Sept 11): Shares of UEM Sunrise Bhd (UEMS) were the most actively traded at mid-morning today and jumped 7.61% on renewed buying interest.
At 10.10am, UEMS gained 7 sen to 99 sen with 43.1 million shares done.
AllianceDBS Research said UEMS had on Sept 10 crossed over the 91.5 sen hurdle to a high of 94.5 sen before settling at 92 sen (up 3.5 sen or 3.95%).
In its evening edition yesterday, the research house said the crossover of the 91.5 sen hurdle would likely see UEMS trading upward with the next upside target pegged between RM1.00 and RM1.05.
The research house said risk taking traders can establish a buying position at RM0.90 on a small pullback.
“Once a buying position is established, a stop loss at 87 sen level must be placed for risk capital protection, and this 87 sen is to be followed by a trailing stop loss strategy,” it said.
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