SCGM jumped and touched the RM2.40 resistance level. With its 21-day moving average pointing upward, coupled with a higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM2.50, followed by RM2.57. The downside support is marked at RM2.23. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.40

Target: RM2.50, RM2.57 (time frame: 2-4 weeks)

Exit: RM2.23

Source: AmInvest Research - 24 Aug 2021