Scientex may trend higher after it surged to a new 52-week high and closed above the RM3.83 resistance a week ago. As the 20-day and 50-day EMAs have established a bullish crossover lately, the current upward momentum may continue in the near term. A bullish bias may emerge above the RM3.83 level, with stop-loss set at RM3.68, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM4.30, followed by RM4.50.

Entry : RM3.83–4.00

Target : RM4.30, RM4.50

Exit : RM3.68

Source: AmInvest Research - 19 Jan 2024