Scientex surged past the resistance level of RM9.30 in the latest session. With the momentum indicator RSI above 70%, the bullish momentum may continue and move towards the target prices of RM9.85 and RM10.50. If it dips below RM9.30, it will move sideways for further consolidation. Meanwhile, the immediate support is anticipated at RM9.00, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy on continuation above RM9.30

Target: RM9.85, RM10.50 (time frame: 3-6 weeks)

Exit: RM9.00

Source: AmInvest Research - 21 Oct 2019