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Author: Deep   |   Latest post: Sat, 25 Jul 2020, 8:48 PM

 

SCGM (7247) - Packaging Sector is coming?

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The demand in packaging industry has increased during this Covid-19. But the share price of some companies are still falling.

The shares price of SLP have fallen 26% to 83 sen this year; TOMYPAK has fallen 7% to 50.5 sen, while SCIENTEX has fallen 6% to RM8.90.

However, why did the share prices of SCGM and TGUAN rise, but other companies slipped?

This might related to the company's exposure. SCGM is a listed company familiar to most investors, and is more familiar with its business, performance and corporate development. Of course, more importantly, the performance of SCGM and TGUAN is very good.

The stronger will be the stronger and the weaker will continue to be the weaker, the two companies SCGM and TGUAN are strong stocks. If the stock price is significantly adjusted due to the impact of the market, it will instead be an opportunity to accumulate weakness.

In our group, we are collecting #SCGM since 26th June and we do TP RM 2 two times. Let's see will it reaches our second TP 2.45 in the coming few weeks.

 





SCGM has been trading above its upward sloping 20-Day Moving Average which is a good sign. The support level of SCGM is RM 2. The indicator analysis on RSI is not exhibiting any extreme condition. Watch out for the 30% and 70% levels which indicate any oversold and overbought condition respectively.

 


Sectors we are focusing now:
1. Glove
2. Technology
3. Packaging
 

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https://t.me/bursashortterm

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Labels: SCGM

Related Stocks

Chart Stock Name Last Change Volume 
SCGM 3.68 -0.06 (1.60%) 7,590,900 

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