Scientex climbed higher to test the resistance level RM8.65. With the momentum indicator above 60%, it may continue to move towards the short-term target prices of RM9.00 and RM9.40. If it dips below RM8.65, it will again move sideways and consolidate. In this case, the downside support is marked at RM8.27, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM8.65

Target: RM9.00, RM9.40 (time frame: 2-4 weeks)

Exit: RM8.27

Source: AmInvest Research - 3 Jun 2020