Scientex pulled back and tested the RM4.57 support level. With its 21-day moving average in an uptrend, coupled with a higher trading volume, we see a possibility for a technical rebound. If this happens, we expect it to move towards the short-term target prices of RM4.72 and RM4.83. The downside support is projected at RM4.40. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on pullback RM4.57

Target: RM4.72, RM4.83 (time frame: 2-4 weeks)

Exit: RM4.40
 

Source: AmInvest Research - 21 Sept 2021