KUALA LUMPUR (Nov 3): AllianceDBS Research said Prinsiptek Corporation Bhd (Psiptek) had on Nov 2 traded higher to 17 sen before settling at 16.5 sen (up 0.5 sen or 3.12%).

In its evening edition yesterday, the research house said a crossover of the 17.5 sen hurdle would likely see Psiptek trading upward with the next upside target pegged between 19 sen and 21 sen.

It said risk taking traders can establish a buying position at 16 sen on a small pullback.

“Once a buying position is established, a stop loss at 15.5 sen level must be placed for risk capital protection, and this 15.5 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 RM30 – RM50 potential profit, you may acquire 1,000 shares with a capital amount of RM160 assuming buying order is filled at 16 sen,” it said.