KUALA LUMPUR (July 18): AllianceDBS Research said renewed buying interest had emerged in Felda Global Ventures Holdings Bhd (FGV) and that FGV had on July 15 crossed over the RM1.55 hurdle to a high of RM1.58 before settling at RM1.55 (up 2 sen or 1.30%).

In its evening edition last Friday, the research house said the crossover of the RM1.55 hurdle would likely see FGV trading upward with the next upside target pegged between RM1.65 and RM1.70.

It said the risk taking traders can establish a buying position at RM1.53 on a small pullback.

“Once a buying position is established, a stop loss at RM1.51 level must be placed for risk capital protection, and this RM1.51 is to be followed by a trailing stop loss strategy.

“If you are prepared to take a trading loss risk of RM20 (excluding brokerage) for RM120 – RM170 potential profit, you may acquire 1,000 shares with a capital amount of RM1,530 assuming buying order is filled at RM1.53,” it said.