Scientex consolidated and touched the RM9.80 resistance level. With its 21-day moving average pointing upwards, coupled with higher trading volume, we think that there could be a technical rebound towards the short-term target price of RM10.16 followed by RM10.34. In this case, the downside support is marked at RM9.44, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on pullback RM9.80

Target: RM10.16, RM10.34 (time frame: 2-4 weeks)

Exit: RM9.44

Source: AmInvest Research - 25 Sept 2020