Scientex may soon test the RM8.63 level after forming a bullish harami candle pattern. It may move higher upon successful recovery above this mark with a target price of RM8.95, followed by RM9.38. Meanwhile, it may continue to drift sideways if it fails to move above the RM8.63 mark in the near term. In this case, support is anticipated at RM8.32, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM8.63

Target: RM8.95, RM9.38 (time frame: 3-6 weeks)

Exit: RM8.32

Source: AmInvest Research - 8 Mar 2019