SCGM was testing the RM1.63 level during its intraday high. With a rising RSI, it may move higher above this mark with a target price of RM1.70, followed by RM1.78. Meanwhile, it may drift sideways if it fails to cross the RM1.63 mark in the near term. In this case, support is anticipated at RM1.49, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.63

Target: RM1.70, RM1.78 (time frame: 3-6 weeks)

Exit: RM1.49

Source: AmInvest Research - 18 Dec 2019