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Rakuten Trade Research Reports

Author: rakutentrade   |   Latest post: Wed, 8 Jul 2020, 5:24 PM

 

Technical View - SCGM Bhd (SCGM, 7247)

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SCGM Bhd (7247)

• SCGM closed 2.2% or 3 sen higher to RM1.37 yesterday.

• Share price has crossed the 200-day moving averages on the back of higher-than-average trading volume. This indicates continued buying interest on the stock and is set to resume its upward trend possibly breaking new high.

• From here, resistance levels are seen at RM1.46 (R1) and further to RM1.60 (R2)

• On the downside, support levels are expected at RM1.22 (S1) and RM1.11 (S2).

Source: Rakuten Research - 22 Apr 2020

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Labels: SCGM

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Chart Stock Name Last Change Volume 
SCGM 2.10 -0.07 (3.23%) 2,122,600 

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