KUALA LUMPUR (June 14): AllianceDBS Research said Poh Huat Resources Holdings Bhd (Pohuat) had on June 13 crossed over the RM1.86 hurdle to a high of RM1.91 before settling near the day’s high at RM1.89 (up 7 sen or 3.84%).

In its evening edition yesterday, the research house said the crossover of the RM1.86 hurdle would likely see Pohuat trading upward with the next upside target pegged between RM1.94 and RM2.04.

It said risk taking traders can establish a buying position at RM1.86 on a small pullback.

“Once a buying position is established, a stop loss at RM1.84 level must be placed for risk capital protection, and this RM1.84 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 RM80 – RM180 potential profit, you may acquire 1,000 shares with a capital amount of RM1,860 assuming buying order is filled at RM1.86,” it said.