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Hot Stock Felda Global rises 1.33% on renewed buying interest
by Cals Fri 02 Oct 2015, 00:37
- Hot Stock
[size=28]Felda Global rises 1.33% on renewed buying interest
By Surin Murugiah / theedgemarkets.com | October 1, 2015 : 9:27 AM MYTKUALA LUMPUR (Oct 1): Shares of Felda Global Ventures Holdings Bhd (FGV) ([You must be registered and logged in to see this image.] Valuation: 2.00, Fundamental: 1.15) rose 1.33% in early trade today after AllianceDBS Research said there was renewed buying interest in FGV.
At 9.07am, FGV rose 2 sen to RM1.52 with 2 million shares traded.
In a note today, the research house said FGV had on Sept 30 crossed over the RM1.53 hurdle to reach an intraday high of RM1.54 before settling off the day’s high at RM1.50 (up 7 sen or 4.89%).
In its evening edition yesterday, the research house said a crossover of the RM1.53 hurdle would likely see FGV trading upward with the next upside target pegged between RM1.65 and RM1.75.
The research house said risk taking traders could establish a buying position at RM1.47 on a small pullback.
"Once a buying position is established, a stop loss at RM1.43 level must be placed for risk capital protection, and this RM1.43 is to be followed by a trailing stop loss strategy.
"If you are prepared to take a trading loss risk of RM40 (excluding brokerage) for RM180 – RM280 potential profit, you may acquire 1,000 shares with a capital amount of RM1,470 assuming buying order is filled at RM1.47," it said.
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