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
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SCGMCreated by AmInvest | Jul 26, 2024