SCGM jumped and touched the RM3.18 resistance level. With 21-day moving average trending higher, coupled with higher trading volume, we see that there is a possibility it will move above the resistance. If this happens, expect it to rebound towards the short-term target prices of RM3.33 and RM3.50. The downside support is anticipated at RM2.93, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM3.18
Target: RM3.33, RM3.50 (time frame: 2-4 weeks)
Exit: RM2.93

Source: AmInvest Research - 13 Aug 2020