Hot Stock Bonia up 2.65% on favourable research report

by **Cals** Thu 05 Nov 2015, 18:36

Hot Stock

[size=28]Bonia up 2.65% on favourable research report

By Surin Murugiah / theedgemarkets.com | November 5, 2015 : 11:24 AM MYT

KUALA LUMPUR (Nov 5): Shares of Bonia Corporation Bhd (Bonia) ([You must be registered and logged in to see this image.] Valuation: 1.20, Fundamental: 1.60) rose 2.65% at mid-morning today, after AllianceDBS Research said Bonia was in position to trade higher and that Bonia had on Nov 4, crossed over the 76 sen hurdle to an intraday high of 76.5 sen, before settling near the day’s low at 75.5 sen (up 1 sen or 1.34%).

At 10.54am, Bonia rose 2 sen to 77.5 sen, with 750,500 shares done.

In its evening edition yesterday (Nov 4), the research house said a crossover of the 76 sen hurdle again, would likely see Bonia trading upward with the next upside target pegged between 81 sen and 90 sen.

The research house said that risk taking traders could establish a buying position at 75 sen, on a small pullback.

It said once a buying position is established, a stop loss at 74 sen level must be placed for risk capital protection, and this 74 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 RM60 — RM150 potential profit, you may acquire 1,000 shares with a capital amount of RM750, assuming buying order is filled at 75 sen,” it said.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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