KUALA LUMPUR (April 29): AllianceDBS Research said Pinehill Pacific Bhd (Pinepac) had on April 26 traded higher to 44.5 sen before settling at 42.5 sen (up 0.5 sen or 1.19%).

In its evening edition last Friday, the research house said a crossover of the 45 sen hurdle would likely see Pinepac trading upward with the next upside target pegged between 48 sen and 50 sen.

It said risk taking traders can establish a buying position at 41.5 sen on a small pullback.

“Once a buying position is established, a stop loss at 40.5 sen level must be placed for risk capital protection, and this 40.5 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 – RM85 potential profit, you may acquire 1,000 shares with a capital amount of RM415 assuming buying order is filled at 41.5 sen,”it said.