SCIENTEX (SCIENTX | 4731)

Last Price: RM4.65 | Technical Call: BUY

SCIENTEX posted 3 positive candles in a row and hit a new 52-week high yesterday, likely indicating the return of buying interest. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in early October, the uptrend may persist in the near term. A bullish bias may emerge above the RM4.55 level with stop-loss set at RM4.32, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM5.00, followed by RM5.20.

Entry: RM4.55-4.65

Target: RM5.00, RM5.20

Exit: RM4.32

Source: AmInvest Research - 6 Nov 2024