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NewsEvergreen in position to trade higher, says AllianceDBS Research
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Evergreen in position to trade higher, says AllianceDBS Research
by Cals Wed 19 Aug 2015, 19:11
Evergreen in position to trade higher, says AllianceDBS Research
KUALA LUMPUR (Aug 19): AllianceDBS Research said Evergreen Fibreboard Bhd (Evergreen) ([You must be registered and logged in to see this image.] Financial Dashboard) was in position to trade higher and that Evergreen had on August 18 tested previous day’s low of RM1.75 before settling at the day’s high of RM1.86 (up 8 sen or 4.49%).
In its evening edition yesterday, the research house said a crossover of the RM1.86 hurdle would likely see Evergreen trading upward with the next upside target pegged between RM2.00 and RM2.07.
“Risk taking traders can establish a buying position at RM1.83 on a small pullback.
“Once a buying position is established, a stop loss at RM1.80 level must be placed for risk capital protection, and this RM1.80 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 RM170 – RM240 potential profit, you may acquire 1,000 shares with a capital amount of RM1,830 assuming buying order is filled at RM1.83,” it said
KUALA LUMPUR (Aug 19): AllianceDBS Research said Evergreen Fibreboard Bhd (Evergreen) ([You must be registered and logged in to see this image.] Financial Dashboard) was in position to trade higher and that Evergreen had on August 18 tested previous day’s low of RM1.75 before settling at the day’s high of RM1.86 (up 8 sen or 4.49%).
In its evening edition yesterday, the research house said a crossover of the RM1.86 hurdle would likely see Evergreen trading upward with the next upside target pegged between RM2.00 and RM2.07.
“Risk taking traders can establish a buying position at RM1.83 on a small pullback.
“Once a buying position is established, a stop loss at RM1.80 level must be placed for risk capital protection, and this RM1.80 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 RM170 – RM240 potential profit, you may acquire 1,000 shares with a capital amount of RM1,830 assuming buying order is filled at RM1.83,” it said
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