AmInvest Research Reports
Stocks on Radar - SCGM (7247)
AmInvest
Publish date: Fri, 03 Jan 2020, 09:47 AM
AmInvest
0 9,057
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
SCGM shot up and formed a long white candle in its lastest session. With an RSI level above 60%, it may continue to climb above the resistance price of RM1.63. If this happens, its shortterm target price will be RM1.72 followed by RM1.80. If it fails to close above RM1.63, expect a sideway movement. Support is anticipated at RM1.53, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM1.63
Target: RM1.72, RM1.80 (time frame: 3-6 weeks)
Exit: RM1.53
Source: AmInvest Research - 3 Jan 2020
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