SCGM climbed and touched the RM2.54 resistance level. With its 21-moving average indicator moving 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 RM2.65, followed by RM2.75. The downside support is marked at RM2.38. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.54

Target: RM2.65, RM2.75 (time frame: 2-4 weeks)

Exit: RM2.38
 

Source: AmInvest Research - 25 Oct 2021