AmInvest Research Reports
Stocks on Radar - SCGM (7247)
AmInvest
Publish date: Mon, 23 Nov 2020, 11:50 AM
AmInvest
0 9,386
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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 jumped and touched the RM2.88 resistance level. With its RSI indicator on an upward trend, coupled with higher trading volume, there is a good chance it will break out and head towards the short-term target price of RM2.98, followed by RM3.08. The downside support is marked at RM2.78. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM2.88
Target: RM2.98, RM3.08 (time frame: 2-4 weeks)
Exit: RM2.78
Source: AmInvest Research - 23 Nov 2020
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