KUALA LUMPUR (July 17): AlllianceDBS Research said Efficient E-Solutions Bhd (Efficen) had on July 14 crossed over the 37.5 sen hurdle to an intraday high of 38.5 sen before settling at 36.5 sen (up 2 sen or 5.79%).

In its evening edition last Friday, the research house said a crossover of the 37.5 sen hurdle again would likely see Efficen trading upward with the next upside target pegged between 42 sen and 43.5 sen.

It said risk taking traders can establish a buying position at 35.5 sen on a small pullback.

“Once a buying position is established, a stop loss at 34.5 sen level must be placed for risk capital protection, and this 34.5 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 RM65 – RM80 potential profit, you may acquire 1,000 shares with a capital amount of RM355 assuming buying order is filled at 35.5 sen,” it said.