KUALA LUMPUR (May 3): Leader Steel Holdings Bhd (Lsteel) shares jumped 14.13% this morning on renewed  buying interest.

At 9.25am, Lsteel rose 6.5 sen to 52.5 sen with 1.86 million shares traded.

AllianceDBS Research said Leader Steel Holdings Bhd (Lsteel) had on May 2 crossed over the 45 sen hurdle to reach a high of 48.5 sen before settling at 46 sen (up 4 sen or 9.52%).

In its evening edition yesterday, the research house said the crossover of the 45 sen hurdle would likely see Lsteel trading upward with the next upside target pegged between 53.5 sen and 57 sen.

It said risk taking traders can establish a buying position at 44.5 sen on a small pullback.

“Once a buying position is established, a stop loss at 43.5 sen level must be placed for risk capital protection, and this 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 RM90 – RM125 potential profit, you may acquire 1,000 shares with a capital amount of RM445 assuming buying order is filled at 44.5 sen,” it said.