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NewsVolatile game play seen ahead for Globetronics, says AllianceDBS Research
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Volatile game play seen ahead for Globetronics, says AllianceDBS Research
by Cals Thu 05 May 2016, 07:33
Volatile game play seen ahead for Globetronics, says AllianceDBS Research
By theedgemarkets.com / theedgemarkets.com | May 5, 2016 : 6:40 AM MYTKUALA LUMPUR (May 5): AllianceDBS Research said Globetronics Technology Bhd (Gtronic) rebounded with volatile game play seen ahead and that Gtronic had on May 4 traded lower to RM3.12 before rebounding to settle near the day’s high at RM3.51 (up 27sen or 8.33%).
In its evening edition yesterday, the research house said a crossover of the RM3.56 hurdle would likely see Gtronic trading upward with the next upside target pegged between RM3.80 and RM3.95.
It said risk taking traders could establish a buying position at RM3.40 on a small pullback.
“Once a buying position is established, a stop loss at RM3.27 level must be placed for risk capital protection, and this RM3.27 is to be followed by a trailing stop loss strategy.
“If you are prepared to take a trading loss risk of RM130 (excluding brokerage) for RM400 – RM550 potential profit, you may acquire 1,000 shares with a capital amount of RM3,400 assuming buying order is filled at RM3.40,” it said.
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