AmInvest Research Reports

Stock on Radar - SCIENTEX (SCIENTEX)

AmInvest
Publish date: Tue, 08 Oct 2024, 09:36 AM
AmInvest
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SCIENTEX (SCIENTEX | 4731)

Last Price: RM4.49 | Technical Call: BUY

Technical chart: SCIENTEX

Support 1: RM4.40Resistance 1: RM4.80
Support 2: RM4.20Resistance 2: RM5.00
Shariah Compliant: YesSector: Industrial

SCIENTEX may rise higher after it formed a long positive candle and hit a new 52-week high yesterday. As the 20-day and 50-day EMAs have confirmed their bullish crossover a week ago, the stock looks positive in the near term. A bullish bias may emerge above the RM4.40 level with stop-loss set at RM4.18, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM4.80, followed by RM5.00.

Entry: RM4.40-4.49

Target: RM4.80, RM5.00

Exit: RM4.18

 

Source: AmInvest Research - 8 Oct 2024

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