SCGM climbed and hit the RM2.14 resistance level. With its RSI indicator pointing upward, coupled with a higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM2.24 and RM2.28. The downside support is projected at RM2.05. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.14

Target: RM2.24, RM2.28 (time frame: 2-4 weeks)

Exit: RM2.05
 

Source: AmInvest Research - 14 Feb 2022