PublicInvest Research

Author: PublicInvest   |   Latest post: Wed, 15 Jul 2020, 10:02 AM


Technical Buy: SCGM (7247)

Author:   |    Publish date:

  • Target Price: RM1.44, RM1.48
  • Last closing price: RM1.34
  • Potential return: 7.4%, 10.4%
  • Support: RM1.30
  • Stop Loss: RM1.22

Possible for further upside. SCGM is picking up its prior uptrend. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in the near term. Should resistance level of RM1.40 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM1.44 and RM1.48.

However, failure to hold on to support level of RM1.30 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 21 Apr 2020

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Labels: SCGM

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

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