KUALA LUMPUR (May 29): AllianceDBS Research said Econpile Holdings Bhd (EconBhd) had on May 28 gapped up to reach a high of 64.5 sen before settling near the day’s high at 64 sen (up 4 sen or 6.66%).

In its evening edition May 28, the research house said a crossover of the 67.5 sen hurdle would likely see EconBhd trading upward with the next upside target pegged between 70 sen and 72 sen.

It said risk taking traders can establish a buying position at 62.5 sen on a small pullback.

“Once a buying position is established, a stop loss at 61.5 sen level must be placed for risk capital protection, and this 61.5 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 RM75 – RM95 potential profit, you may acquire 1,000 shares with a capital amount of RM625 assuming buying order is filled at 62.5 sen,” it said.