SCGM may soon retrace its path towards the RM1.42 level. If this happens, we foresee that there could be a technical rebound towards the short-term target prices of RM1.48 and RM1.51. In this case, the downside support is anticipated at RM1.35, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy on breakout RM1.42
Target: RM1.48, RM1.51 (time frame: 3-6 weeks)
Exit: RM1.35
Source: AmInvest Research - 25 Feb 2020
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Created by AmInvest | Nov 25, 2024