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AmInvest Research Reports

Author: AmInvest   |   Latest post: Wed, 15 Jul 2020, 9:23 AM

 

Stocks on Radar - SCGM (7247)

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SCGM shares price has consolidated with an immediate resistance level of RM1.34. The monentum indicator RSI has crossed the threshold 50%, indicating it may break out from the resistance. If this happens, we foresee that it could propelsagain towards the short-term target prices of RM1.44 and RM1.54. In this case, the downside support is anticipated at RM1.21, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM1.34

Target: RM1.44, RM1.54 (time frame: 3-6 weeks)

Exit: RM1.21

Source: AmInvest Research - 6 Apr 2020

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Labels: SCGM

Related Stocks

Chart Stock Name Last Change Volume 
SCGM 2.12 +0.02 (0.95%) 1,133,300 

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