SCGM has rebounded from its low to test the RM1.43 immediate resistance level. With momentum indicator RSI pointing upwards, a bullish bias may be present above this mark with short-term target prices of RM1.49 and RM1.58. In this case, the immediate support is anticipated at RM1.31, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.43

Target: RM1.49, RM1.58 (time frame: 3-6 weeks)

Exit: RM1.31

Source: AmInvest Research - 6 Dec 2019