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NewsRenewed buying interest emerges in SapuraKencana, says AllianceDBS Research
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Renewed buying interest emerges in SapuraKencana, says AllianceDBS Research
by Cals Thu 26 Nov 2015, 19:35
Renewed buying interest emerges in SapuraKencana, says AllianceDBS Research
By theedgemarkets.com / theedgemarkets.com | November 26, 2015 : 7:43 AM MYTKUALA LUMPUR (Nov 26): [size=16]AllianceDBS Research said renewed buying interest had emerged in SapuraKencana Petroleum Bhd (SKPetro) ([You must be registered and logged in to see this image.] Valuation: 0.80, Fundamental: 0.65) and that SKPetro had on Nov 25 traded higher to RM2.21 before settling near the day’s high at RM2.20 (up 7 sen or 3.28%).
In its evening edition yesterday, the research house said a crossover of the RM2.26 hurdle would likely see SKPetro trading upward with the next upside target pegged between RM2.45 and RM2.50.
It said risk taking traders could establish a buying position at RM2.18 on a small pullback.
“Once a buying position is established, a stop loss at RM2.15 level must be placed for risk capital protection, and this RM2.15 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 RM270 – RM320 potential profit, you may acquire 1,000 shares with a capital amount of RM2,180 assuming buying order is filled at RM2.18,” it said.
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