Renewed buying interest emerges in EA Technique

  • Business
  • Friday, 06 Oct 2017

KUALA LUMPUR: Renewed buying interest has emerged in E.A. TECHNIQUE (M) BHD, according to AllianceDBS Research.

EA Technique, which owns and operates marine vessels in Malaysia, saw its shares gained one sen, or 2.02% to 50.5 with more than 1.48 million shares traded.

AllianceDBS said EA Technique had on crossed over the 50 sen hurdle to reach an intraday high of 50.5 sen before settling at 49.5 sen on Thursday.

It added that a crossover of the 50 sen hurdle again would likely see Eatech trading upward with the next upside target pegged between 56 sen and 60 sen.

The research house said risk taking traders could establish a buying position at 48 sen on a small pullback.

“Once a buying position is established, a stop loss at 47 sen level must be placed for risk capital protection, and this 47 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 RM80 – RM120 potential profit, you may acquire 1,000 shares with a capital amount of RM480 assuming buying order is filled at 48 sen,” AllianceDBS said.

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