KUALA LUMPUR (Oct 11): AllianceDBS Research said Green Packet Bhd (GPacket) had on Oct 10 traded higher to 37 sen before settling near the day’s high at 36.5 sen (up 1.5 sen or 4.28%).

In its evening edition yesterday, the research house said a crossover of the 37.5 sen hurdle would likely see GPacket trading upward with the next upside target pegged between 40 sen and 40.5 sen.

It said risk taking traders can establish a buying position at 36 sen on a small pullback.

“Once a buying position is established, a stop loss at 35.5 sen level must be placed for risk capital protection, and this 35.5 sen is to be followed by a trailing stop loss strategy.

“If you are prepared to take a trading loss risk of RM5 (excluding brokerage) for RM40 – RM45 potential profit, you may acquire 1,000 shares with a capital amount of RM360 assuming buying order is filled at 36 sen,” it said.