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Hot Stock Spring Gallery rises on continued buying interest
by Cals Fri 08 May 2015, 00:47
Hot Stock
Spring Gallery rises on continued buying interest
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By Surin Murugiah / theedgemarkets.com | May 7, 2015 : 9:25 AM MYT
KUALA LUMPUR (May 7): Shares of [size=14]Spring Gallery Bhd (SGB) advanced in early trade today after AllianceDBS Research said there had been renewed buying interest in SGB and said SGB had on May 6 tested the recent high of 61 sen (April 13) before settling at 60 sen (up 2.5 sen or 4.34%).
At 9.06am, SGB rose 0.83% or half a sen to 60.5 sen with 314,000 shares done.
In its evening edition yesterday, AllianceDBS Research said a crossover of the 61 sen hurdle would likely see SGB trading upward with the next upside target pegged between 66 sen and 70 sen.
It said tisk taking traders could establish a buying position at 59.5 sen on a small pullback.
“Once a buying position is established, a stop loss at 58.5 sen level must be placed for risk capital protection, and this 58.5 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 RM65 – RM105 potential profit, you may acquire 1,000 shares with a capital amount of RM595 assuming buying order is filled at 59.5 sen,” it said.
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Spring Gallery rises on continued buying interest
[You must be registered and logged in to see this image.]
By Surin Murugiah / theedgemarkets.com | May 7, 2015 : 9:25 AM MYT
KUALA LUMPUR (May 7): Shares of [size=14]Spring Gallery Bhd (SGB) advanced in early trade today after AllianceDBS Research said there had been renewed buying interest in SGB and said SGB had on May 6 tested the recent high of 61 sen (April 13) before settling at 60 sen (up 2.5 sen or 4.34%).
At 9.06am, SGB rose 0.83% or half a sen to 60.5 sen with 314,000 shares done.
In its evening edition yesterday, AllianceDBS Research said a crossover of the 61 sen hurdle would likely see SGB trading upward with the next upside target pegged between 66 sen and 70 sen.
It said tisk taking traders could establish a buying position at 59.5 sen on a small pullback.
“Once a buying position is established, a stop loss at 58.5 sen level must be placed for risk capital protection, and this 58.5 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 RM65 – RM105 potential profit, you may acquire 1,000 shares with a capital amount of RM595 assuming buying order is filled at 59.5 sen,” it said.
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