KUALA LUMPUR (April 22): AllianceDBS Research said renewed buying interest had emerged in Icon Offshore Bhd and that Icon had on April 21 crossed over the 39 sen hurdle to reach a high of 40 sen before settling at 38.5 sen (up 1.5 sen or 4.05%).
In its evening edition yesterday, the research house said a crossover of the 39 sen hurdle again would likely see Icon trading upward with the next upside target pegged between 41 sen and 45 sen.
It said risk taking traders could establish a buying position at 37.5 sen on a small pullback.
“Once a buying position is established, a stop loss at 36.5 sen level must be placed for risk capital protection, and this 36.5 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 RM35 – RM75 potential profit, you may acquire 1,000 shares with a capital amount of RM375 assuming buying order is filled at 37.5 sen,” it said.
ICON (5255) - Renewed buying interest emerges in Icon, says AllianceDBS Research
http://www.theedgemarkets.com/my/article/renewed-buying-interest-emerges-icon-says-alliancedbs-research
