Scientex may soon test the RM8.83 resistance level. With a healthy RSI level more than 60%, a bullish bias may be present above this mark with a target price of RM9.19 and RM9.54. Meanwhile, it may continue moving sideways if it fails to cross the RM8.83 mark in the near term. In this case, the immediate support is anticipated at RM8.48, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM8.83

Target: RM9.19, RM9.54 (time frame: 3-6 weeks)

Exit: RM8.48

Source: AmInvest Research - 9 May 2019